Shares in Japanese telecommunications giant Nippon Telegraph & Telephone have slumped to an eight year low after the Japnese economics minister’s calls, in a Sunday newspaper interview, for the former monopoly to be broken up.
NTT is Japan’s biggest telecoms company and led the way for mobile internet services through its i-mode phones yet its net profits for the year are expected to drop by as much as 72% in the face of increased competition in the local calls market and difficulties with division into regional operations.
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