Japanese telco NTT Docomo Inc. is looking to sell its Italian mobile content company Buongiorno and has approached banks and advisers for the purpose, the Financial Times reported, citing two people with knowledge of the matter.
A change in the structure of ownership is expected, even though the telecoms business will continue working with Buongiorno, according to one person.
NTT Docomo reportedly bought the Italian company in 2012 for US$267 million and renamed it Docomo Digital Italy. The purchase allowed Japan's telecom giant to expand its footprint in the global market.
Buongiorno was formed in 1995 and became the largest independent mobile content platform offering online gaming, mobile payments and music streaming, after the company acquired UK-based tech company iTouch UK Ltd.