Tomen in phone venture

Japanese trading company Tomen Corp will operate cellular phone services in China with France Telecom and a Chinese company, a Tomen spokesman says.

Tomen said the US$467 million project, in which the three companies will form two regional joint-venture entities, will give the company a foothold in China's emerging telecommunications market.

It also wants to eventually take part in the country's planned construction of underwater fibre-optic networks.

This will be Tomen's first participation in a telecommunications project.

Spokesman Katsuoki Ishibashi said it was part of the company's efforts to diversify operations. 'We are always looking for opportunities to expand,' he said.