LDP weighs scrapping NTT law to sell off telecom giant shares

Politics Economy

The ruling Liberal Democratic Party on Tuesday began weighing the scrapping a law barring complete privatization of Japan’s telecom giant Nippon Telegraph & Telephone Corp., a move that could pave the way for sale of all the government’s remaining stake worth over 4 trillion yen ($27 billion) in the company.

The LDP will discuss whether proceeds from selling the government’s NTT stake should be used to fund planned increases in defense spending in coming years, according to party officials.

The party’s project team tasked with reviewing the matter held its first meeting Tuesday. It will make i...

Kyodo News

Kyodo News