has started talks to sell
to Ripplewood Holdings, a U.S. investment fund, for more than $2.5 billion, the
Nihon Keizai Shimbun
daily reported Wednesday.
Vodafone, the British wireless giant, and Ripplewood are expected to close the deal soon. Under the most likely scenario, Ripplewood would buy all outstanding shares of Japan Telecom, Japan's No. 3 fixed-line carrier, while Vodafone would assume Japan Telecom's debts totaling $1.25 billion, the report said.