Toyota Motor Corp. and Itochu Corp. on Wednesday announced their decisions to sell their 17.7 percent stakes in International Digital Communications Inc. to Britain's Cable and Wireless PLC.
The announcements bring to an end a high-profile bidding war between C&W and Nippon Telegraph and Telephone Corp. that at times threatened to strain trade relations between Tokyo and London.
The announcements also came a day after NTT said it would not counter C&W's latest offer, a move widely interpreted as stepping out of the fray.