Japanese telecoms giant NTT already owned a 10% stake in Verio, the US internet service provider, having financed some of the company’s start-up costs years earlier. Now Verio was up for sale, and had been courting suitors for some time. NTT, whose US strategy was almost non-existent, decided that it could not allow the company to fall into anyone else’s hand.
Foreign takeovers of US companies are nothing new. But NTT’s purchase of Verio was a first in other respects.
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