DoCoMo Buys More Of 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.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Gold Driller Top Certified for Bulgarian Investments

Canadian gold driller and miner Dundee Precious Metals Inc. received Monday first-class investment certificate from Bulgarian government more »

Czech company purchases 3rd portion of Baku-Supsa oil

The Unipetrol Refinery company of the Czech Republic has purchased this year's third portion of Azeri Light profit oil to be exported by the State Oil Company (SOCAR) more »

Opec expresses concern about rising oil prices

Seeking to cool market sentiment, the head of Opec on Sunday said the organisation is concerned about stubbornly high prices that defy what he described as a well-supplied market and adequate crude stocks worldwide more »

Direct access, remote control

On February 17 the German bank Dresdner Bank AG became the first remote member of the Warsaw Stock Exchange more »

Morocco, Poland to strengthen economic relations

Polish businessmen convened, in Cassablanca Wednesday, with members of the Casablanca Chamber of Commerce, Industry and Services to discuss means to reinforce bilateral trade cooperation more »

Banks seen unlikely to repeat stellar performance of 2004

Hungary’s banks posted record profits in 2004, driven mainly by a surge in lending to households more »

Bulgaria's HVB Biochim, Hebros Bank Merge

Bank Austria Creditanstalt (BA-CA) has acquired a 89.92% stake and HVB Biochim Bank - a 9.99% of stake in Bulgaria's Hebros Bank more »

A memorandum on cooperation

Russia and Kazakhstan sign cooperation memo more »

EBRD hopes loans will aid Ukraine

The European Bank for Reconstruction and Development is planning a raft of new investments in Ukraine to underpin the country's democratic transformation under President Viktor Yushchenko more »

Geneva motor show reflects lack of drive in Europe

Peugeot Citroën, the French cars group, is planning to turn its back on western Europe and concentrate all its investment in new plant in eastern Europe more »