TOKYO, JAPAN, December 21, 2001 --- NTT DoCoMo, Inc. (NTT DoCoMo) announced today that it plans to exercise a preemptive right to purchase additional shares of AT&T Wireless Service Inc. (AT&T Wireless) in order to maintain its current share of ownership in the U.S. cellular phone operator. The decision is contingent on AT&T Wireless' plan to buy U.S. regional cellular phone operator TeleCorp PCS, Inc. (TeleCorp) through an exchange of shares.
If AT&T Wireless completes its planned acquisition, NTT DoCoMo will purchase the necessary shares to maintain its current 160wnership in AT&T Wireless, which is expected to amount to approximately 26.6 million shares of common stock at US$14.28 per share, the NYSE average closing price over the 30-day period ending December 20, 2001. The total investment will amount to approximately US$380 million. NTT DoCoMo will determine the exact number of shares, as well as make payment, on the same day that AT&T Wireless completes its acquisition of TeleCorp.
NTT DoCoMo provides AT&T Wireless with technological support and seats one member on the firm's board of directions. By strengthening the relationship between the two partners, the new investment should help facilitate the introduction of new third-generation wireless and mobile multimedia services in the United States and other markets.
If AT&T Wireless completes its planned acquisition, NTT DoCoMo will purchase the necessary shares to maintain its current 160wnership in AT&T Wireless, which is expected to amount to approximately 26.6 million shares of common stock at US$14.28 per share, the NYSE average closing price over the 30-day period ending December 20, 2001. The total investment will amount to approximately US$380 million. NTT DoCoMo will determine the exact number of shares, as well as make payment, on the same day that AT&T Wireless completes its acquisition of TeleCorp.
NTT DoCoMo provides AT&T Wireless with technological support and seats one member on the firm's board of directions. By strengthening the relationship between the two partners, the new investment should help facilitate the introduction of new third-generation wireless and mobile multimedia services in the United States and other markets.
