Goldman Sachs Invests $221 Million in Japanese Mobile Phone Firm

U.S. investment bank Goldman Sachs will invest 25 billion yen ($221.2 million) in a new mobile service in Japan that eAccess aims to start next year…EAccess, which wholesales broadband service to companies like KDDI, is expected to win one of three mobile licenses the Japanese government is expected to issue later this year. EAccess aims to start mobile data service by March 2007, with voice services following, but it will be entering a crowded industry where as many as six or seven operators are expected to offer services.
The investment also brings eAccess a step closer to the 100 billion yen in funds that it aims to secure by the end of the year. Japanese broadcaster Tokyo Broadcasting System last month agreed to invest 10 billion yen.

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