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
Poland has received a dressing down from the European Commission
more »
First Asian targeted syndicated loan in history of Baltic banking signed by Parex banka
more »
UKRAINIAN GOVERNMENT WANTS TO CONTEST 3,000 PRIVATIZATIONS IN COURT
more »
The clients of five more banks from the HVB Group have been included in the FlashPayment system of money transfer enlarging the inter-bank network to a total of 19 banks in Bulgaria, Estonia, Latvia, Lithuanian, Russia and Ukraine
more »
Russia's antitrust authority signaled Tuesday that it might block a bid by German industrial giant Siemens to take a controlling stake in a strategic engineering company, citing national security concerns
more »
Raiffeisen Bank Polska (RBP) closed 2004 with a record net profit of zł.165.4 billion which is almost double the 2003 figure
more »
Polish bonds rose more than any other government-debt securities after a report showed inflation slowed the most since May
more »
The chambers of commerce and industry of Russia and Iran have created a Russia-Iran Business Council
more »
Bulgaria's government and government-guaranteed debt stood at EUR 7.95 B at the end of December 2004, with foreign debt accounting for 82.8% of it, the finance ministry announced
more »
Irish Prime Minister Bertie Ahern said yesterday that opening Ireland's job market to workers from Poland, when it joined the European Union on May 1 last year, has "worked out well" for both countries
more »