martyn_williams
Senior Correspondent

DoCoMo says no decision yet on AT&T Wireless bid

news
Jan 27, 20041 min

U.S. carrier is looking for a buyer after Q4 loss

TOKYO — 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 Inc., it said Tuesday.

The Japanese carrier currently holds a 16 percent stake in AT&T Wireless. The U.S. carrier lost $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 Tuesday 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, it said.

The request also contained confirmation that NTT DoCoMo may submit an acquisition proposal if it wishes, NTT DoCoMo said.