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 European Commission has today decided to close the formal investigation procedure into the agreement between Bratislava Airport in Slovakia and Ryanair after concluding that the airport operator acted as a market economy investor and therefore no advantage has been granted to Ryanair.
more »
The coffee industry of Jamaica represents one the largest earners of foreign exchange, approximately US$30 million in 2008.
more »
On January 13, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Mauritius.
more »
The World Bank's International Development Association and the International Monetary Fund have agreed to support US$1.6 billion in debt relief for the Islamic Republic of Afghanistan.
more »
The Common Agricultural Policy plays a critical role in helping farmers to deliver environmental goods and services, provided that policies are targeted in the right way.
more »
Regional Policy Commissioner Paweł Samecki will meet Croatia's Prime Minister Jadranka Kosor and members of her government in Zagreb on 25-26 January to discuss the country's preparations for accession in the context of the EU cohesion policy.
more »
The World Bank Board of Directors today approved US$20 million for the Dominican Republic in support of the Municipal Development Project, which aims to improve the technical and financial capacity of local governments.
more »
The European Investment Bank (EIB) is lending EUR 400 million to Ford Romania SA for the expansion and refurbishment of the company’s existing car assembly plant located in Craiova in the South-West of Romania.
more »
The Agriculture Council of the European Union has examined ways to improve the functioning of the food supply chain with the ultimate aim of controlling the fluctuation in prices and ensuring a more equitative distribution of the added value throughout the chain.
more »
The European Commission has today approved an application from Lithuania for assistance under the Globalisation Adjustment Fund (EGF).
more »