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
According to a report published yesterday by Merril Lynch, no other member country has gained more than Poland from EU accession
more »
Russia is negotiating the early repayment of its Paris Club debt, President Vladimir Putin said yesterday
more »
According to reports, the owner of Eurobank is ready to sell the company for $150-180 million
more »
At a cabinet meeting on 1 February, Kazakh President Nursultan Nazarbaev criticized state-owned companies, banks and large holding companies for holding too many noncore assets
more »
Commission rallies EU governments to collective economic cause
more »
Lithuania offers the lowest tax-to-GDP ratio in the EU
more »
International ratings agency Standard and Poor's has raised Romania's credit outlook to positive from stable, the Rompres news agency reported Tuesday
more »
Member States need to embrace reform more decisively to create more growth and jobs, EU Commission reports show
more »
Jan Rokita, tipped to become Poland’s prime minister after 2005 elections, wants swift public finance reforms including a weaker role for the finance minister in creating annual budgets
more »
Latvia’s Parex banka posts 12 pct profit growth to EUR 21.3 mln for 2004
more »