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Stocks

Docomo plans $2.2bn stock buyback, mostly from parent NTT

Japanese carrier targets better shareholder returns, may retire shares

Japanese mobile carrier NTT Docomo plans to roll out commercial 5G services in the spring of 2020.

TOKYO -- Japanese mobile carrier NTT Docomo will repurchase 2.39% of its outstanding shares for 250 billion yen ($2.2 billion), mostly from parent Nippon Telegraph & Telephone.

Docomo said Monday it intends to reacquire 93.24 million shares, including 74.59 million shares from the parent group for 200 billion yen. The carrier will buy back the remaining shares from other investors for 50 billion yen. The purchase period starts Tuesday and concludes Jan. 15.

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