"This report is not true," said DoCoMo spokesman Norio Hasegawa, in response to the Philippine Daily Inquirer report. PLDT, the country's largest phone company--15 percent owned by Nippon Telegraph and Telephone Corp--is yet to speak.
DoCoMo, a unit of NTT and Japan's largest mobile phone company, is looking for partners in Asia and an investment in Smart could expand its relationship with the PLDT.
Partial ownership by DoCoMo could boost Smart's finances and increase its lead over rival Globe Telecom Inc, which is backed by Singapore Telecommunications Ltd and Deutsche Telekom AG.
DoCoMo, which has no Philippine partner, has spent about ¥1.8 trillion (US$14.5 billion) buying shares in mobile phone operators overseas, including stakes in Hong Kong's Hutchison Telephone Co and Taiwan's KG Telecommunications Co.
PLDT rose as high as 725 pesos (US$14.32) before giving up gains and recently traded unchanged at 715 pesos (US$14.12). The stock has lost 17 percent of its value this year. DoCoMo rose 0.4 percent to ¥2.5 million (US$20,295.50), adding to this year's 27.4 percent gain.
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