de 
S.A. to acquire 7% (R$95.2 million, approx. 
11.9 billion) of Tele Sudeste Celular 
S.A.'s stocks that were subject to an open tender.
For this investment, NTT DoCoMo formed a consortium with de S.A. (a Spanish telecom operator), IBERDROLA S.A. (a Spanish electric power company), and ITOCHU Corporation (a Japanese trading company) to participate in an open tender for the purchase of stock in a Brazilian government-owned mobile communications operator active in the states of Rio de Janeiro and Espirito Santo S.A. The consortium won the bid on July 29, 1998 (July 30 in Japan).
NTT DoCoMo has arrived to an agreement with in order to explore the implementation of the new technologies in the cellular industry. Dr. Keiji Tachikawa, president of NTT DoCoMo said, "Rio de Janeiro and Espirito Santo, where we are investing, are the second largest economic blocs in Brazil following Sao Paul. We can expect steady economic growth in these areas. Therefore it is a promising market with a high growth potential for the cellular business. We are very happy to have the opportunity to extend our business to the area"
Tele Sudeste Celular S.A is a holding company that owns Telerj Celular and Telest Celular, which provide cellular phone services in the states of Rio de Janeiro and Espirito Santo.
Attachment
| 1. | Bid price | R$1,360million (170billion : 1 Real = 125) |
| NTT DoCoMo's share | R$95.2million (11.9billion : 1 Real = 125) |
|
| Rate as of July 30, 1998 | ||
| 2. | Share Breakdown | |
|
(Share: 82.5%) | |
| IBERADOLA | (Share: 7.0%) | |
| NTT DoCoMo | (Share: 7.0%) | |
| ITOCHU | (Share: 3.5%) | |
| 3. | Overview of the companies | |
| Name | Head Office | Foundation | Employee | Total Asset (1997) |
| de , S.A. |
Madrid, Spain |
1924 | 70,000 | 6.2 trillion pesetas |
| Iberdrola S.A. | Madrid, Spain |
1901 | 12,000 | 2.8 trillion pesetas |
| ITOCHU Corporation | Tokyo, Japan |
1949 | 6,675 | 7.5 trillion yen |
