The deadline for submitting bids to purchase AT&T Wireless arrived Friday amid reports that one potential suitor, Japan's NTT DoCoMo, will not pursue the U.S. wireless company.
AT&T Wireless recently put itself up for sale and told potential suitors that all offers must be submitted by today. Unconfirmed reports have had Cingular Wireless tendering a $30 billion cash offer and U.K. operator Vodafone mulling whether to submit a $40 billion offer.
According to reports from Reuters and Japanese news services, however, the bidding was too rich for DoCoMo's blood. DoCoMo purchased a 16 percent stake in AT&T Wireless in 2001 for a little less than $10 billion. However, the company's board reportedly decided that the price to purchase AT&T Wireless outright is too high and will not submit an offer, Reuters and the Japanese news services reported. Reuters claimed its source came from within DoCoMo.
In addition, DoCoMo would consider selling its existing stake if the company is sold to another bidder, the reports claimed.
Whoever winds up buying AT&T Wireless, the result will have an impact on the U.S. wireless industry and its consumers. Vodafone already co-owns Cingular Wireless and it likely would be required to sell its stake in Cingular if it acquires AT&T Wireless.
Also, since both Cingular and Vodafone use GSM, adoption of that technology would be expected to be strengthened in the U.S. Currently, the largest U.S. wireless carrier, Verizon Wireless, uses CDMA technology as do several other carriers such as Sprint PCS.
*This story courtesy of Mobilepipeline.com.
|
10 Challenges That HP Wants Partners To Tackle Right Now CRN speaks with HP's business unit chiefs to get a sense of where they'd like partners to focus in the coming year, as well as how CEO Meg Whitman is making a difference. |
|
VAR500: IBM Strikes Deal With Ukraine Bank; HP Bolsters Health-Care Practice CRN VAR500 solution providers win health-care contracts, work on European banking solution, create a platform for microlending, sharing info on cloud computing and more. |
|
Five Companies That Dropped The Ball This Week For the week ending Feb. 3, CRN looks at five companies that were either asleep at the wheel or just didn't make good decisions. |
 More
Slide Shows |
