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(Update) NTT, NEC to Form Capital Alliance for 5G Development

(Update) NTT, NEC to Form 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. The telecommunications giant will buy new NEC shares to be issued on July 10 under a third-party allotment scheme.

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AFP-JIJI PRESS NEWS JOURNAL


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