Japan Telecom Co. is in negotiations with Nissan Motor Co. over purchasing the automaker's equity stakes in six Digital Tu-Ka cellular phone companies, a spokesman for the Tokyo-based major carrier said Thursday.
However, the two firms are yet to reach a final agreement, the spokesman said.
Japan Telecom and Nissan Motor are the largest shareholders of six of the nine existing Digital Tu-Ka cellular group companies, equally owning about 20 percent stakes in those firms.
The six cellular firms serve Hokkaido, Kyushu, Shikoku and the Tohoku, Hokuriku and Chugoku regions.
By obtaining Nissan's shares in these cellular phone companies and gaining tighter control over their management, Japan Telecom would be able to promote a strong brand image on a nationwide basis, the spokesman said.
Cash-strapped Nissan Motor decided to scale down its telecom business as part of comprehensive restructuring efforts and entered negotiations with various parties looking for a potential buyer.
It remains to be seen whether Nissan Motor will sell all of its shares in the cell phone firms or remain as a minor shareholder of the firms, the Japan Telecom spokesman said.
Meanwhile, a spokeswoman for Nissan acknowledged that the automaker has been in talks with several companies over the future of its cellular business, including Japan Telecom and DDI Corp.
On top of holding shares in the six Digital Tu-Ka cellular phone group companies, Nissan also owns shares in the three other Tu-Ka Cellular phone companies, which serve the Tokyo, Tokai and Kansai regions.
DDI Corp. is thinking of buying Nissan's shares of these Tu-Ka Cellular group firms, according to a DDI spokesman.