Essay About J-Phone Group And Japan Telecom

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On 12 April 2001, the acquisition of a 15% stake in Japan Telecom, the controlling
shareholder of the J-Phone Group, from West Japan Railway Company and Central
Japan Railway Company was completed. On 27 April 2001, the Group completed the
acquisition of a further 10% stake in Japan Telecom from AT&T Corporation for a cash
consideration of $1.35 billion (ÐЈ0.9 billion), bringing the Groups interest in Japan
Telecom to 25% at that time.
On 2 May 2001, the Company announced that it had agreed to acquire, for a cash
consideration of approximately ÐЈ3.7 billion, BT Group plcs (“BTs”) ownership interests
in the J-Phone Group and Japan Telecom, comprising BTs combined shareholdings of
20% in Japan Telecom and 20% in J-Phone Communications for ÐЈ3.1 billion, and
BTs aggregate interest of approximately 4.9% in the J-Phone operating companies
for a further ÐЈ0.6 billion. The transaction completed on 1 June 2001, except for the
acquisition of BTs interests in the operating subsidiaries of J-Phone Communications,
which did not complete until 12 July 2001. As a result of these transactions, the
Group had a 46% interest in J-Phone Communications, not including its indirect
interest through Japan Telecom, and interests of 18.9%, 15.2% and 14.9%,
respectively, in J-Phone Communications regional mobile companies J-Phone East,
J-Phone West and J-Phone Central, excluding the Companys indirect interests
through Japan Telecoms and J-Phone Communications holdings in these companies.
On 24 August 2001, the Company announced the proposed merger of J-Phone
Communications and the J-Phone operating companies into a new company, J-Phone
Co., Ltd. The merger became effective on 1 November 2001 and, as a result, the
Group held a 39.67% ownership interest in the new company.
On 20 September 2001, the Company announced an agreed tender offer by its
subsidiary, Vodafone International Holdings B.V., to acquire up to 693,368