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
Hungary is to register a general government deficit of Ft 210 billion in January, the Finance Ministry projected yesterday
more »
The central bank governor is warning that the euro is not the cure for all Poland's ills
more »
Heads of the Azerbaijani and Georgian customs bodies are scheduled to meet at the Boyuk Kasik station on the border shortly
more »
The debit cards issued by Bulgaria's largest card operator BORIKA has increased by more than 1.06 million in 2003 y/y reaching the impressive number of 3.5 million
more »
Cooperation with international financial organisations
more »
The Russia Finance Ministry plans to issue securities worth RUR234bn (about USD8.35bn) in 2005
more »
The United States may invest massively in Ukraine if its new government achieves economic stability, Interfax-Ukraine news agency said Wednesday.
more »
Belarus posted the most industrial growth among Commonwealth of Independent States countries in January- November 2004, with output increasing 15.8% year-on-year
more »
Economists have called on Poland to repay some or all of its approximately zł.52.81 billion debt to the Club, saying now is an ideal time for a buyback of the debt
more »
Europe stormed ahead of the US last year in its dash to offshore more business activities, a report revealed yesterday
more »