Japan's largest telecom service provider NTT Docomo Inc on Wednesday announced that it had acquired a 25 per cent stake in Viet Nam's VMG Media Joint Stock Company to expand the firm's services in the Asia-Pacific region
HA NOI —
The stake, worth approximately VND370 billion (US$17.8 million), represents Docomo's first investment in Viet Nam.
Established in 2006, VMG Media controls one-fourth of the mobile phone content market in Viet Nam.
Docomo has previously invested in Indian and South Korean companies. Through its investment in Viet Nam, it intends to increase its share in the fast expanding Asian mobile phone market.
Under the deal, VMG offers both content and content platforms. With its investment, Docomo will share its expertise and know-how with VMG, such as in content distribution, with the aim of boosting VMG's business and expanding Docomo's value-added services in Asia-Pacific.
Docomo will also work together with VMG's largest stakeholder, the Viet Nam Post and Telecommunication group (VNPT), the country's largest telecom operator, which holds about 29 per cent stake in the company, to promote VMG's business. NTT Docomo is the world's leading mobile operator and provider of advanced mobile services.
The company serves over 56 million customers in Japan, including 49 million using i-mode (TM), the world's most popular mobile e-mail/internet platform, and 54 million using FOMA(TM), the world's original 3G mobile service based on W-CDMA. — VNS