The chief of Vodafone Group PLC strongly denied Tuesday a recent British media report that the company is planning to sell off Japan Telecom Co.'s fixed-line business.
"We have no plans to sell Japan Telecom's fixed business," CEO Christopher Gent said in a news conference in Tokyo, adding that his "first and most important priority" for now is to improve the performance of Japan's third-largest telecom carrier.
The Sunday issue of the Observer reported that Vodafone is planning to sell off the fixed-line business for 3 billion British pounds (about 512 billion yen) after finishing the ongoing tender offer to capture full management control the Japanese carrier.
Vodafone, which already owns a 45 percent stake in Japan Telecom, on Friday started the agreed takeover bid to acquire additional shares to bring its stake up to 66.7 percent of the total outstanding stocks.
Gent, who came to Japan to "reconnect" with the current management team, said that Japan Telecom Chairman Koichi Sakata will be succeeded by President Haruo Murakami in spring.
Gent declined to comment on who will be chosen as the new president, saying he is still in the process of looking.
Vodafone's strategic focus in the takeover bid is to gain full control of the J-Phone group, Japan Telecom's mobile unit.
During the news conference, Gent praised J-Phone's advanced handsets as "the best in the world," saying Vodafone is planning to introduce the units to the world market.