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 launched "The ocean of tomorrow " call for research proposals. Oceans cover about 70% of the Earth's surface, but human activity is increasing environmental pressure on them.
more »
The EBRD is stepping up its support to the real economy in Georgia with new funds for on-lending to local businesses.
more »
Lithuania’s Ambassador to Germany and Special Representative for EU External Relations in the German Foreign Office discussed the situation regarding the decision of private credit insurance company in Germany Euler Hermes to apply the rating of a maximum risk country for Lithuania.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
The European Commission has approved 16 programmes in 12 Member States to provide information on and to promote agricultural products in the European Union.
more »
New measures to help farmers through recession as milk prices tumble.
more »
Federal Reserve Chairman Ben Bernanke said the outlook for the long-suffering U.S. economy appears to be improving.
more »
The Swiss Government and the EBRD are providing €11.8 million to improve the supply of water to some 1 million people living in Bishkek, the capital of the Kyrgyz Republic.
more »
The Neighbourhood Investment Facility (NIF), a key instrument of the intensified European Neighbourhood Policy (ENP), will benefit in 2009 from a €70 million contribution by the European Commission.
more »
In response to the impact of the global crisis on the Romanian construction sector, the EBRD is supporting Lafarge Ciment (Romania) S.A. with a €20 million loan in Romanian lei to finance the company’s operations and to support its working capital requirements.
more »