TOKYO — Nippon Telegraph and Telephone plans to turn NTT Data Group into a wholly owned subsidi through a tender offer expected to be worth up to $20 billion, Nikkei has learned, accelerating its shift from telecommunications to the technology sector by leveraging the unit’s strength in corporate IT services.
Japan’s top telecom provider and one of the country’s largest listed companies holds around 58% of NTT Data, which oversees the group’s international operations. The tender offer for the remaining shares likely will carry a 30% to 40% premium, with the parent expected to spend 2 trillion yen to 3 trillion yen ($14 billion to $20.9 billion) on the deal. NTT Data will be delisted afterward.
