Japanese long distance telecomms provider International Digital Communications (IDC) is to tell its shareholders to accept a takeover bid from NTT, the country?s largest operator, disregarding an offer from the UK?s Cable & Wireless.
NTT wants to acquire the carrier through an exchange of shares.
Cable & Wireless offered to acquire IDC in mid March for a reported $514.9 million (Yen62.4 billion). It already owns 17.7 per cent of the long distance operator.
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