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 $380 million.
Through it's initial buy-in, NTT DoCoMo received one seat on AT&T Wireless' board. Also part of that initial deal, AT&T Wireless agreed to add a GSM/GPRS overlay to its existing TDMA wireless system, a process it already has started.
It also is expected that services based on DoCoMo's i-mode technology, which is wildly successful in Japan, will be launched by the American carrier.
DoCoMo in the last year has acquired, or attempted to acquire, stakes in a variety of wireless operators around the world. For instance, it recently invested in Dutch operator KPN Mobile, which said recently that it soon will launch i-mode services. However, earlier this week it ended talks with Korea's SK Telecom to acquire a stake in that company.
Šaltinis:
Finance News Archives
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Ukraine, Turkmenistan Plan to Renew Natural Gas Accord
more »
EU Decision on Central Bank Post Complicated by Vacancy at IMF
more »
European regulators have gone dramatically further than their US counterparts by imposing a record fine of €497 million ($A817 million) and product changes on US software giant Microsoft for stifling competitors
more »
At the end of February 2004, international reserves of the Bank of Lithuania made up LTL 9,036.2 million
more »
The Asian Development Bank is facilitating subregional cooperation between Afghanistan, Pakistan and Central Asian and other countries in the sphere transport and trade
more »
The campaign believes the pound will remain the UK currency for the foreseeable future
more »
Microsoft software risks paying $3.2 billion in fine to the European Union
more »
China National Petroleum Corp.'s oil exports from Kazakhstan, piped to Russia's Black Sea for shipping, have been seized on the orders of a Russian court
more »
The European Competition Competitioner Mario Monti today confirmed that Brussels would rule against Microsoft
more »
Microsoft has filed legal papers in the Netherlands requesting fines of 100,000 euros (US$122,230) per day against Lindows for allowing users within that country to access its Internet site
more »