Basic Agreement on the Merger with KDDI and POWEREDCOM and on the Alliance in the FTTHOctober 19th, 2005
FiledOctober 19th, 2005Tokyo, October 13, 2005 - KDDI Corp. (represented by President and Chairman Tadashi Onodera, hereinafter referred to as "KDDI)"), Tokyo Electric Power Co. (represented by President Tsunehisa Katsumata, hereinafter referred to as "TEPCO"), POWEREDCOM Inc. (represented by President and CEO Shigeru Nakane, hereinafter referred to as " POWEREDCOM ") have agreed at their board meetings today to sign a basic agreement on the merger between KDDI and POWEREDCOM. Also, KDDI and TEPCO hereby announced to form a comprehensive alliance in telecommunications services with an aim to compete against the NTT Group, and reached an agreement on the provision of integrated services in the FTTH business.