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June 7, 2006 / 11:54 AM

Japan Telecom buys bankrupt Heisei assets

TOKYO, June 7 (UPI) -- Japan Telecom has agreed to purchase the assets of bankrupt Japanese telco Heisei Denden effective June 16.

The transaction will allow Heisei's customers to continue service on some 140,000 fixed and high-speed digital lines for the time being, the Kyoto news service said Wednesday.

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Terms of the deal were not immediately revealed.

Heisei entered the fixed-line market in 2001 but went under amid slumping sales and fierce competition among Japan's low-cost providers.

Japan Telecom earlier agreed to acquire other phone services that are now operated by imaging-software developer Dream Technologies.

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