Japan's NTT DoCoMo said Friday that it will exercise its option to purchase more shares of U.S.-based AT&T Wireless.
Published:
27 December 2001 y., Thursday
The Japanese company previously purchased 16 percent of AT&T Wireless. DoCoMo said in a statement that it's additional purchases will maintain that percentage of ownership.
DoCoMo said its decision is contingent on AT&T Wireless' acquisition of TeleCorp PCS, a regional wireless operator in the U.S. That acquisition would occur through a stock exchange, which will increase AT&T Wireless' total number of offered shares.
DoCoMo estimated that its additional share acquisition will give it a total of 26.6 million shares of AT&T Wireless' common stock worth about $380 million.
Through it's initial buy-in, NTT DoCoMo received one seat on AT&T Wireless' board. Also part of that initial deal, AT&T Wireless agreed to add a GSM/GPRS overlay to its existing TDMA wireless system, a process it already has started.
It also is expected that services based on DoCoMo's i-mode technology, which is wildly successful in Japan, will be launched by the American carrier.
DoCoMo in the last year has acquired, or attempted to acquire, stakes in a variety of wireless operators around the world. For instance, it recently invested in Dutch operator KPN Mobile, which said recently that it soon will launch i-mode services. However, earlier this week it ended talks with Korea's SK Telecom to acquire a stake in that company.
Šaltinis:
Finance News Archives
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Wincor Nixdorf International GmbH is successfully expanding its business activities in Ukraine
more »
Wincor Nixdorf supplies initial 50 ATMs to Cardpoint Germany and takes responsibility of the complete operation of the self-service estate
more »
Weakness of education system, high cost of living make it hard to attract top workers
more »
Share trading turnover jumped 62% from January to February on the Budapest Stock Exchange
more »
Latvia, the former Soviet state that's pressuring banks to clamp down on financial crime, has the most to do of any European Union member when it comes to tackling money laundering, a U.S. government report said
more »
Russia's foreign debt decreased USD9.2bn in 2004 to USD110.5bn as of January 1, 2005, the Russian Finance Ministry said
more »
Italy is going to increase by 50 percent the volume of investments in the Russian economy, Italian deputy industry minister Dr. Adolfo Urso said on Wednesday presenting in Moscow the program 2005
more »
In the course of Ukrainian President Viktor Yushchenko's visit to Germany on March 8 to 9, Naftogaz Ukrainy oil company and DeutscheBank signed a financing agreement worth EUR2bn
more »
Nokia and Hungarian operator Pannon GSM have signed an agreement for the expansion of Pannon’s GSM network and upgrade to EDGE in greater Budapest
more »
According to preliminary figures of the Central Statistics Office (KSH), Hungary’s foreign trade grew at a faster pace in 2004 than in previous years
more »