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
Ukraine's stock market is Europe's best performer this year, buoyed by exports to neighboring Russia and the European Union
more »
The Kazakh authorities have arrested the property, including the Sunkar floating platform, of Parker Drilling
more »
Oil prices have been pushed up again by several factors
more »
The Russian gas giant, Gazprom, will take part in the tender to privatise one and not two gas distribution company
more »
The Polish economy should grow by 5.5 percent year-on-year in 2004
more »
Foreign investors seemingly unfazed by Serbia’s numerous economic and political problems
more »
The London Club has agreed to write off more than half of Serbia's $2.8 billion debt to the group and reschedule payments on the remainder over the next 20 years
more »
On 1 July, Uzbek national currency - soum - turned 10 years
more »
Ukraine’s public debt increased by $33m, or 0.2 percent, in May to $14.696bn, according to Ukraine’s Finance Ministry
more »
The Russian Union of Industrialists and Entrepreneurs does not think that Russia has a banking crisis
more »