DoCoMo buys 11.5% of Blue Ocean Wireless

Japan's leading mobile carrier DoCoMo acquired an 11.5% stake in mobile communications provider Blue Ocean Wireless for €7.15 million (US$10 million), a Reuters report said.

The transaction valued Dublin-based Blue Ocean, which specialises in providing GSM communication services to the maritime sector, at more than €62.2 million (US$87 million), the Reuters report said.

Blue Ocean sold new common shares to DoCoMo, diluting the stake of existing shareholders which include a subsidiary of Philippine Long Distance Telephone, the the Philippines' largest listed firm.

PLDT said in a statement the holdings of its subsidiary Smart Communications in BOW fell to 28.3% from 32% after the deal.

DoCoMo has been expanding its overseas presence as growth slows in its home market.

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