Last year, Vodafone exited the Japanese mobile market to much fanfare when it sold its Vodafone K. K. to Softbank. It only took U.S. mobile firm NextWave Wireless one month to decide to sell its recently purchased stake in Japanese firm IP Mobile because the chances of making a profit in the tight Japanese market were slim. NextWave intends to sell its stake back to company it bought it from: real estate group Mori Trust. Mori will again become the largest shareholder in the mobile firm. The stake is 69.23 percent of IP Mobile.
For more on NextWave's exit:
- read this article from AFP