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 Hungarian privatization agency has announced that the stake of 13.3 million shares in oil concern MOL owned by the Hungary's State Treasury, will be sold through listing it on the Budapest Stock Exchange
more »
Costs to rise for services from abroad after EU accession
more »
EBRD set to finance prolonging pipeline from Ukraine to Poland
more »
EU hits Switzerland with new tax
more »
Improving Competitiveness through a Knowledge-based Economy
more »
APRIL 2004 PUBLIC TENDER IN ESTONIA - 4TH 3G LICENCE AVAILABLE
more »
The euro may rise in Asia after European Central Bank President Jean-Claude Trichet yesterday indicated the bank had not sold its currency to stem gains that threaten the region's growth
more »
Prices for exports rose 11.8 percent in Kazakhstan last year, and import prices increased 26.1 percent, the Kazakh Statistical Agency reported
more »
The expected privatization of major Polish companies like PKO BP bank, the Southern Energy Concern and Polish Oil and Gas might be delayed
more »
Digimarc Corp. has won a $9 million contract to supply the Baltic nation of Latvia with driver's licenses
more »