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.
