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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 172.98+1.1%Jan 2 9:30 AM EST
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To: Ramsey Su who started this subject8/20/2000 7:25:09 PM
From: Cooters  Read Replies (1) of 197074
 
KDDI to Form Cell Phone Subsidiary, Sell Shares, Nikkei Says

--From AOl.-- Cooters

Tokyo, Aug. 21 (Bloomberg) -- KDDI, a new telephone company to be created in October from a three-way merger of KDD, DDI Corp. and IDO Corp., will separate its mobile phone business into a wholly owned subsidiary, the Nihon Keizai newspaper said without citing sources.

KDD is Japan's biggest international telephone company, while DDI and IDO provide long-distance and mobile phone services, respectively.

After the merger, KDDI will separate IDO and merge it with KDDI's other cellular phone units.

A new mobile phone company to be created as a result will sell shares to the public by the end of March 2003 as part of moves to compete with NTT DoCoMo Inc., Japan's biggest mobile phone company, the report said.

Aug/20/2000 18:47 ET
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