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
On 22 of June this year, the board of the newly established company of AB Bank SNORAS - UAB “SNORO Media Investicijos” - made a decision to invest in the shares of UAB “Lietuvos rytas” and to acquire 34 per cent of the authorised capital of the company.
more »
The Banker's Exchange is joining forces with Chicago-based Intergam Logistics as part of a global expansion initiative into the ATM support market.
more »
Lisbon treaty and financial supervision dominate debate at EU summit.
more »
In the most sweeping financial reform proposal since the Great Depression, President Barack Obama unveiled plans to overhaul the U.S. financial regulatory system, saying the events that led to the U.S. financial crisis make the proposed changes necessary.
more »
Due to the rising concerns on a possible disruption of Russian gas supplies to Europe coming through Ukraine, the Commission has chaired a meeting of the Gas Coordination Group to assure a stronger EU coordination and to secure energy supplies to European citizens.
more »
Mexico signs an agreement with Google to help revive tourism at its historical sites, after the swine flu epidemic.
more »
The recession could hit working women harder than men, an EU study warns, underscoring persistent disparities between the sexes in the European labour market.
more »
The first 4 months of 2009 saw 25 percent more FBI background checks on prospective firearm buyers compared to the same period last year in US.
more »
AS “Latvijas Krājbanka”, managed by AB Bank SNORAS, was presented with the annual prize of Deutsche Bank AG, one of the largest European banks, for the excellent quality of the outgoing payments.
more »
Danske Bankas has made another increase in the interest rate for fixed-term deposits in litas for both private and corporate clients.
more »