Telepark says to merge with MS Communications

Japanese cellphone sales firm Telepark Corp said on Thursday it planned to merge with its nearest rival MS Communications Co Ltd, its latest move to expand market share.

By Agencies | May 22, 2008, 11.50 AM IST

TOKYO: Japanese cellphone sales firm Telepark Corp said on Thursday it planned to merge with its nearest rival MS Communications Co Ltd, its latest move to expand market share.

Shareholders in MS Communications will get 21.9 Telepark shares for each of their shares, Telepark said. Telepark Corp is an affiliate of trading house Mitsui & Co Ltd while MS Communications is a joint venture owned by rivals Mitsubishi Corp and Sumitomo Corp.

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