TELECOMMUNICATIONS
Japan to Let Foreigners Buy Phone Giant’s Shares: Foreigners will be allowed to buy shares in Nippon Telegraph & Telephone Corp. under a measure that Parliament just passed. Non-Japanese will be allowed to own up to 20% of the company, which was converted from a government monopoly to a private corporation in 1986. Since 1987, the government has sold 34% of NTT’s 15.6 million shares to the public but until now had maintained that foreign ownership was not in the national interest. The government plans eventually to reduce its holdings to 30%.
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