Japan’s Nippon Telegraph plans to buy remaining stake in NTT Data for $20.9 billion, Nikkei reports
(Reuters) -Japan’s telecom giant Nippon Telegraph and Telephone (OTC:NPPXF) is considering to make a tender offer of up to 3 trillion yen ($20.92 billion) to buy the remaining shares it does not already own in NTT Data, the Nikkei reported late on Wednesday without naming the source.
Nippon Telegraph (OTC:NTTYY) (NTT), one of the country’s largest listed firms, currently owns around 57.7% of NTT Data, according to LSEG data.
The tender offer, which is expected to be announced as early as Thursday, would see NTT buying out the remaining shares in NTT Data at a premium of 30% to 40%, Nikkei said in its report.
NTT Data is a provider of IT services and enjoys a strong presence in the public as well as the financial sector.
Following the deal, NTT Data will be delisted from the Tokyo stock exchange, Nikkei added in its report.
($1 = 143.3800 yen)
