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
The Bank of Lithuania, the Baltic country's central bank, said Thursday that it had approved a plan to replace the litas, Lithuania's national currency, with the euro
more »
Capital Intelligence affirms rating for Parex banka with a positive outlook
more »
The Georgian parliament has approved the bill on tax amnesty at a meeting today
more »
The National Bank of Serbia (NBS) has definitively revoked the licence of Raj Bank
more »
Russian state oil company Rosneft has become the new owner of Yuganskneftegaz by buying 100 percent of the shares of previously unknown Baikalfinansgroup
more »
VOLUME OF TRADE BETWEEN RUSSIA AND BELARUS MIGHT EXCEED $16 BILLION BY THE END OF 2004
more »
A Luxembourg-based European courton Wednesday turned down an appeal by Microsoft to delay sanctions imposed on the software giant by the European Commission
more »
Deutsche Börse and Euronext stepped up their wooing of the London Stock Exchange yesterday after holding separate meetings with its chief executive
more »
YUKOS’ major asset, Yuganskneftegaz, the sale of which was long disputed, is no more YUKOS’ subsidiary as yesterday it was sold by bailiffs to secure the recovery of overdue taxes
more »
The main production unit of embattled Russian oil giant Yukos has been forcibly auctioned off
more »