NextWave to be only foreign carrier in Japan

NextWave Wireless is set to become the only foreign carrier in Japan by acquiring a 69.23 percent stake in Tokyo-based IPMobile from Mori Trust, which bought the stake in April. NextWave's investment will help IPMobile speed up the time to market for its fourth generation wireless network, which the carrier plans to use to offer voice, data and streaming multimedia services. If the deal goes through as expected, NextWave will become the only foreign carrier in Japan since Vodafone pulled out of Vodafone KK (now Softbank Mobile) last year.

The investment comes at a crucial time for IPMobile since its license for the network expires in November. The carrier received its license in the fall of 2005 when Softbank Mobile and eMobile received theirs. The other carriers have since launched their services.

For more on the deal:
- read this press release