TOKYO -- Japanese telecommunications group Nippon Telegraph & Telephone announced Thursday that it would invest 64.5 billion yen ($597 million) for a 4.8% stake in IT services group NEC to launch what both companies called a "made-in-Japan" alliance in 5G technology.
The deal will make NTT, which owns Japan's largest telecommunications carrier, the third biggest shareholder in NEC. The partnership will also give both companies an opportunity to catch up with Chinese equipment makers at a time when those entities are under global political pressure.
