The Japanese mobile sector – innovative in technology terms but generally slow-moving on the commercial side – is being pushed by its government, as well as the entry of Rakuten, to be more competitive and to drive down notoriously high prices. This has prompted NTT to propose a ¥4.3 trillion ($38bn) deal to bring its MNO subsidiary, NTT Docomo, back under its full ownership, which it said would give it a greater business agility. Currently, NTT owns 66% of Docomo, which it partially spun off back in 1992 (that was followed by an IPO in 1998). NTT, which is in turn 33% owned by the state, said it initially approached Docomo with the proposal in August, and has now reached…