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Nikkei reported that Japan's NTT planned to purchase remaining NTT Data Shares for up to $20,9 billion.

The Nikkei reported that the Japanese telecoms giant Nippon Telegraph and Telephone Corp. plans to launch an offer up to 3 trillion Japanese yen (20.92 billion dollars) to purchase the remaining shares of NTT Data.

NTT Data is owned by 57.7%, NTT being the largest telco in Japan. NTT Data provides IT services, and its market capitalisation was $29.5 billion as of Wednesday's closing.

Nikkei reported that under the tender offer which could be announced by Thursday, NTT will buy out all remaining shares of NTT Data for a premium between 30% and 40%.

NTT Data and NTT could not be immediately reached for comment.

In recent years, management buyouts and acquisitions of corporates have increased in Japan. The deal would signal the end of prominent parent-child listings, which are still common in Japan.

NTT, an ex-state monopoly that is still partially owned by the government took NTT Docomo, a mobile operator, private in 2020 in a deal worth 4 trillion yen.

NTT, a major operator of data centers, is working with Toyota Motors on a platform for mobility and developing telecommunications technology that uses light.

Media reported last month that Akio Toyoda's chairman of Toyota Motor, Akio, had proposed to acquire Toyota Industries, a supplier, in a possible 6 trillion yen transaction.

Seven & i Holdings' founding family dropped a February buyout offer after it failed to secure funding.

Alimentation Couche-Tard, a Canadian company, is attempting to acquire the 7-Eleven convenience-store chain for $47 billion.

(source: Reuters)