TSE lifts halt on trading in DDI shares.
The Tokyo Stock Exchange (TSE) said Tuesday it will lift a freeze on trading in the shares of DDI Corp. at 10:40 a.m. after DDI announced it has not yet decided whether to merge with IDO Corp., a cellular phone company affiliated with Toyota Motor Corp.
The TSE had earlier Tuesday halted trading in the DDI shares to give investors time to confirm a report that the company is in final talks with IDO to merge next spring to become Japan's second largest telecom carrier.
DDI said in a statement, "We are studying how we should press ahead with our business in the future and nothing definite has been determined."
The reported merger would create a new carrier with consolidated revenue of 1.6 trillion yen, second only to that of Nippon Telegraph and Telephone Corp.
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|Publication:||Japan Weekly Monitor|
|Date:||Sep 27, 1999|
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