NTT DoCoMo to buy back up to 350 bln yen of stock via tender offer

TOKYO Wed Aug 6, 2014 2:34am EDT

TOKYO Aug 6 (Reuters) - NTT DoCoMo Inc, Japan's biggest mobile carrier, said on Wednesday it would launch a tender offer to repurchase up to 350 billion yen ($3.4 billion) of its own shares, with parent Nippon Telegraph and Telephone Corp (NTT) having pledged to sell back 300 billion yen worth.

NTT DoCoMo said in a statement it would seek to buy back as many as 206,489,675 shares during the tender offer period from Aug. 7 to Sept. 3 for 1,695 yen per common share. The stock closed at 1,776.5 yen on Wednesday.

NTT DoCoMo had already announced plans in April to repurchase as much as 500 billion yen of stock over a one-year period. It said it decided on the tender offer method after consultation with parent NTT.

NTT will keep a 59.27 percent stake in DoCoMo after selling back the shares, DoCoMo said. ($1 = 102.5600 Japanese yen) (Reporting by Chris Gallagher)

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