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 Russian Federal Property Fund has not yet decided on the size of a stake in Yuganskneftegaz that will be put up for sale
more »
Uzbekistan achieved 8.9% GDP growth in January-September 2004 compared to 4% (6.46 trillion soums) in the same period of 2003, according to the session of the Cabinet of Ministers
more »
On Friday, Russia postponed by three months, a decision on whether to revoke the Siberian licences of embattled oil major Yukos
more »
Politicians believe Poland will meet the strict fiscal criteria necessary to enter the Euro zone within three years
more »
German companies pay three times more taxes than in Lithuania, where the tax burden is the lowest among the new EU members
more »
The Ministry of Natural Resources Of Russian Federation head Yuriy Trutnev announced the time of the auction where the Eurasian largest gold deposit, called Sukhoi Log will take place
more »
Hungary demands Romania stop Canadian-led gold mine development
more »
Poland's Deputy Economic Minister is praising Bethesda-based Lockheed Martin's $6 billion worth of investment pledges to his country
more »
The Czech government approved an agreement with U.S. aerospace giant Boeing under which it would acquire the company's stake in the state-controlled subsonic jetmaker Aero Vodochody for a symbolic price of 2 koruna, Vice Prime Min
more »
European Central Bank president Jean-Claude Trichet said in an interview published Monday that the eurozone economic recovery remained gradual and that the bank's analysis of the situation was balanced
more »