DoCoMo’s interTouch unit to purchase MagiNet

Japan’s leading mobile operator by subscribers NTT DoCoMo says its wholly owned subsidiary interTouch has agreed a deal with the owners of MagiNet of Singapore, to acquire full control of the company for approximately USD150 million. Both interTouch and MagiNet are Singapore-based providers of high speed wired and wireless broadband connectivity services and applications, dealing primarily with hotels, management companies and travellers worldwide. DoCoMo plans to provide additional funding of up to USD191 million to interTouch, which includes funds to be allocated to service debt and to facilitate its integration with MagiNet.