Vodafone has sold off its Japan Telecom fixed line business to Ripplewood Holdings for an estimated $2.18 billion.
The company completed the largest leveraged buy-out in Japanese history earlier this week. Vodafone acquired the company in 2001 but had decided that the business was no longer core to its operations. The deal is thought to be evidence that Japan is becoming an increasingly attractive destination for foreign direct investment.
21-Aug-2003
