Ntt To Split Up In 99
Nippon Telegraph and Telephone said yesterday that it would split up into three firms under a holding company immediately after obtaining approval at its annual shareholders meeting in 1999. NTT president Junichiro Miyazu told a news conference: The restructuring of the company will be implemented immediately after approval is given at an annual shareholders meeting in 1999. Under the restructuring, NTT will be split into two regional local carriers and one long-distance group. under a holding company.
Miyazu said the revised telecom bill will help the company answer increasing demand for multimedia and global services.
He also said the company intends to seek government approval for a planned subsidiary to offer international call services immediately after the revised telecom bill takes effect.
Parliaments Upper House on Friday passed a revised telecoms bill which would pave the way for the telecoms titan to realise its long-held dream of entering the global market through the restructuring.
The revised bill will be effective within several weeks, an NTT spokesman said.