US company NextWave Wireless has decided against investing in the Japanese mobile carrier business, opting to sell back its stake in Japanese 3G operator IP Wireless, reports TelecomAsia. This has got to be one of the shortest major investment reversals I’ve ever seen — NextWave only announced it was going to buy the 69.23 percent stake 2 months ago and finalized it last month. Now it’s selling the stake back, having decided it’s too difficult to make a profit in the Japanese market, dominated as it is by just a few players. IP Mobile got the spectrum a couple of years ago and is required to launch a 3G network this year.
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