World VoIP NewsPHS provider Willcom to be splitPHS provider Willcom to be split

PHS provider Willcom to be split

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Japanese personal handy-phone services (PHS) provider Willcom is to be split up, while its backers - Softbank Corp, Advantage Partners LLP and state-backed turnaround agency the Enterprise Turnaround Initiative Corp (ETIC) – are to provide financial aid to revive the company.
Willcom, which filed for bankruptcy protection in February with debts of JPY206 billion (USD2.3 billion), has for years been losing out to the country’s main cellular providers NTT DoCoMo, KDDI (au) Softbank Mobile and more recently eMobile, all of which offer faster data transmission speeds and services.

Under the new pact, Softbank will inject JPY3 billion (USD33 million) in a new company spun off from Willcom, Tokyo-based Willcom said in a faxed statement today. In addition, Advantage Partners will invest JPY5 billion and the ETIC will also help with financing, Bloomberg reports.

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