NTT DoCoMo Inc., Japan's largest cellular telephone network operator, has yet to make up its mind on whether or not to make a bid for AT&T Wireless Services. The Japanese carrier currently holds a 16-percent stake in AT&T Wireless. The U.S. carrier lost US$84 million for the fourth quarter of 2003 and last week said it is looking for a buyer.
NTT DoCoMo picked up its AT&T Wireless stake in January 2001, during the height of the 3G (third-generation) wireless frenzy, paying around $8 billion. Most of the value of the investment is now gone. NTT DoCoMo wrote off almost its entire investment in the carrier in 2002 following a sharp drop in AT&T Wireless' share price.
The Tokyo carrier also said that it has temporarily waived its investor right to receive information from AT&T Wireless concerning any proposed transaction which may affect its shareholding. The waiver was issued on receipt of a request from the U.S. carrier.
The request also contained confirmation that NTT DoCoMo may submit an acquisition proposal if it wishes, NTT DoCoMo said. -- IDG News Service
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