NEW YORK (CNNfn) - America Online and Japan's telecom giant NTT DoCoMo have agreed to jointly develop wireless Internet services in Japan, the Wall Street Journal reported Monday.|
Under the agreement, DoCoMo and AOL (AOL: Research, Estimates) will initially invest $100 million each into AOL Japan, currently a joint venture between AOL, Japan's Mitsui and Nihon Keizai Shimbun. And together the two companies will hold 80 percent of AOL Japan, with DoCoMo's share modestly higher than AOL's.
The partnership is significant because it ties up the world's largest fixed-line Internet company with the world's largest provider of wireless Internet services. The deal pairs up the two companies to integrate their services in Japan so that DoCoMo users will be able to access Web sites through their AOL accounts.
The Journal also said the two companies have been discussing how to integrate services in markets outside of Japan, but no specifics have been decided.
Both DoCoMo and AOL so far have declined to comment on the report.