Japan’s megabanks to extend four trillion yen in loans to NTT for NTT Docomo acquisition: Nikkei

FILE PHOTO: The logo of NTT (Nippon Telegraph and Telephone Corporation) is displayed at the company office in Tokyo, Japan, July 2, 2018. REUTERS/Issei Kato

September 29, 2020

TOKYO (Reuters) – Japan’s three major banks and some others are set to extend about 4 trillion yen ($37.9 billion) in coordinated loans to NTT for the acquisition of its mobile carrier, the Nikkei business daily reported on Tuesday.

The amount would be the largest ever offered as coordinated loans by Japanese lenders, the financial daily added.

Nippon Telegraph and Telephone Corp (NTT) <9432.T> said it was looking at taking full control of its wireless carrier business in a deal that could be worth around 4 trillion yen ($38 billion) and pave the way for price cuts in the sector.

(Reporting by Chang-Ran Kim and Tetsushi Kajimoto; Editing by Jacqueline Wong)

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