BT and AT&T today confirmed taking a 30 per cent stake in Japan Telecom for around Yen 220 billion ($1.8 billion).
Japan Telecom will become the sole distributor of BT and AT&T's cobranded international services as well as the preferred supplier of services to the $10 billion joint venture.
The companies will integrate their existing Japanese joint ventures, BT Communication Services and BT.NIS, as well as AT&T's joint venture AT&T Jens into Japan Telecom.
Japan Telecom provides local, long distance, international, mobile and Internet services. BT estimates the Japanese telecoms market to be worth $100 billion a year.
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