Japanese mobile carrier NTT Docomo will repurchase 2.39% of its outstanding shares for ¥250 billion, with the majority of the shares coming from its parent company Nippon Telegraph and Telephone Corp.
Docomo announced that it will reacquire a total of 93,248,787 shares, of which 74,599,000 shares, or 1.91% of total issued shares, will be bought from NTT for ¥2,681 per share, or about ¥200 billion. The buyback will see NTT's stake in the carrier unit decrease to 61.4% from 63.32%.
The purchase period will start Dec. 12 and end on Jan. 15, according to the company's Dec. 11 press release.
