December 21, 2001, 9:51 AM — NTT DoCoMo Inc. said Friday it will purchase additional AT&T Wireless Service Inc. shares to keep its stake in the U.S. operator at 16 percent after the completion of the TeleCorp PCS Inc. takeover.
AT&T Wireless in October said it would buy the 77 percent of TeleCorp PCS it didn't already own in an all-stock deal valued at US$4.7 billion.
NTT DoCoMo expects the purchase of another 26.6 million shares to regain its stake will cost about $380 million. The new investment should help facilitate the introduction of 3G (third-generation) and mobile multimedia services in the U.S. and elsewhere, the Japanese mobile operator said in a statement.
NTT DoCoMo took the 16 percent stake in its U.S. counterpart in November last year.