TOKYO -- Nippon Telegraph & Telephone announced on Tuesday that it will take telecommunications unit NTT Docomo private in a 4.25 trillion yen ($40.1 billion) takeover bid, raising expectations of a fresh rate war in Japan's mobile phone industry.
"We are not doing this [acquisition] to cut mobile phone bills," NTT President Jun Sawada told reporters during a news conference. "But as a result, [of the deal] there will be room for price cuts."
