Results of Tender Offer for shares of MAGASeek
Mar 15, 2013 (M2 PRESSWIRE via COMTEX) --
NTT DOCOMO, INC. announced today that it has secured 15,105 shares, or 71.28% of total issued shares, of MAGASeek Corporation, operator of the MAGASEEK fashion-goods shopping website, for the sum of 2.04 billion yen (about 22 million U.S. dollars) through a public tender offer. The acquisition is the most recent in a series of moves by DOCOMO to broaden its e-commerce business, this time by expanding into the fashion field.
DOCOMO offered to acquire all shares tendered during the offer period from January 31 to March 14, 2013 on the condition that it could acquire a minimum 8,829 shares. Having met this condition, DOCOMO will now acquire all shares tendered.
MAGASeek will become a consolidated subsidiary of DOCOMO once the tender offer is settled on March 21.
ITOCHU, the parent of MAGASeek, will continue to hold 5,298 shares, or 25%, of MAGASeek's total shares. DOCOMO plans to acquire all remaining shares.
MAGASEEK, one of Japan's leading websites for fashion goods, has a considerable user base, mainly female customers in their 20s and 30s. DOCOMO expects to realize synergies in customer satisfaction and shopping convenience by linking MAGASEEK's services with DOCOMO's 60 million customers, cloud services and business expertise.
Note: USD=92.51 yen as of February 28, 2013
About NTT DOCOMO
NTT DOCOMO is a world-leading mobile operator that is in transition into an Integrated Service Company placing mobility at the core. The company serves over 60 million customers in Japan via advanced wireless networks, including a nationwide 3G network and one of the world's first commercial LTE networks. Leveraging its unique capabilities as a mobile operator, DOCOMO is a leading developer of cutting-edge technologies for NFC mobile payments, mobile GPS, mobile TV, intuitive mobile assistance, environmental monitoring, smart grids and much more. Overseas, the company provides technical and operational expertise to eight mobile operators and other partner companies. NTT DOCOMO is listed on the Tokyo (9437), London (NDCM) and New York (DCM) stock exchanges. Please visit www.nttdocomo.com for more information.
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