NTT and SBI agree on business and capital tie-up

NTT and SBI Holdings announced a strategic partnership where NTT will acquire shares in SBI Holdings as part of an expansion into banking, aiming to integrate their telecom and financial services. Through the deal, NTT Docomo plans to take control of SBI Sumishin Net Bank via a tender offer, while SBI Holdings is expected to sell 34% of its stake to NTT Docomo. This move reflects the mobile industry's need for diversification into banking amid declining telecom fees, with NTT Docomo considering an entry into the banking sector led by President Yoshiaki Maeda.