Japan considers selling NTT shares in 2011

The Japanese government is mulling a deal to offload shares of the country's incumbent service provider NTT (NYSE: NTT) next year, reports Bloomberg.

Citing two government officials close to the matter, the Japanese government could make a decision by December when it submits its 2011 budget to parliament. However, Yoshihiko Noda, Japan's finance minister would not comment on any potential sale.

A potential sale of NTT shares could be used to pay down the country's debt or fund public projects. One possibility is that the Japanese government could sell about 90 million shares, which are valued at around $4 billion. Analysts speculate that if the government did sell its shares, NTT would buy them back.

While Satoshi Miura, NTT's President, said that the service provider would consider purchasing the shares back, he has not been contacted by the government about any sale.  

For more:
- Bloomberg has this article

Related articles:
NTT Communications debuts global IP voice dialing service
NTT Data close to making $1.2 billion offer for Keane
NTT Communications, Microsoft could strike cloud computing agreement
NTT America adds storage to its enterprise cloud offering
NTT America launches enhanced multi-link Ethernet product
NTT America hands President and CEO torch to Kazuhiro Gomi
NTT America establishes network presence in Boston, Mass.

Suggested Articles

lphabet and Google CEO Sundar Pichai announced on Monday that Google plans to invest around $10 billion in India over the next five to seven years.

Hewlett Packard Enterprise (HPE) has juiced its SD-WAN platform by buying Silver Peak for $925 million.

Comcast's investment in the development of artificial intelligence and machine learning paid off in spades during the coronavirus pandemic.