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5G networks

NTT to take 5% stake in NEC for Japanese 5G alliance

$560m investment makes telecom conglomerate third-largest shareholder

The NTT-NEC alliance aims to take on the big three 5G players -- Huawei, Ericsson and Nokia, which together control 80% of the base station market.   © Reuters

TOKYO -- Japanese telecom conglomerate Nippon Telegraph & Telephone will take a 5% stake in electronics company NEC as part of a tie-up to develop fifth-generation wireless technology, Nikkei learned Wednesday.

The deal, estimated at 60 billion yen ($562 million), will make NTT the third-largest shareholder in NEC. Shares in NEC rose 4.5% at one stage in morning trading in Tokyo on Thursday.

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