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NTT, NEC Agree on Capital Alliance for 5G Development

NTT, NEC Agree on Capital Alliance for 5G Development

   Tokyo, June 25 (Jiji Press)--Nippon Telegraph and Telephone Corp. <9432> and NEC Corp. <6701> said Thursday that the Japanese companies have agreed to form a capital and business alliance to jointly develop fifth-generation, or 5G, large-capacity ultrahigh-speed wireless communications technologies.
   Under the agreement, NTT will invest 64.4 billion yen in NEC, planning to acquire an equity stake of 4.8 pct in the electronics and machinery giant to become its third-largest shareholder.

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AFP-JIJI PRESS NEWS JOURNAL


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