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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 163.32

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Nov 21 9:30 AM EST

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To: Ramsey Su who started this subject	7/28/2000 8:25:47 AM
From: Cooters	of 196724

LEAD: DDI to merge 7 of 8 cellular firms in Nov. --From AOL. Note proposed name change.-- Cooters TOKYO, July 28 (Kyodo) - (EDS: ADDING DDI PRESIDENT'S COMMENTS) Telecom carrier DDI Corp. said Friday it will merge seven of its eight regional cellular-phone service providers on Nov. 1 to increase efficiency, naming the merged entity ''au'' (pronounced ''A-U''). DDI, Japan's second-largest telecommunications company, will merge all its cellular phone affiliates except Okinawa Cellular Telephone Co. in Okinawa Prefecture. To merge are its regional cellular-phone service companies based in Hokkaido, Tohoku, Hokuriku, Kansai, Chugoku, Shikoku and Kyushu regions. The Kansai unit will be the surviving entity with the new company headquartered in Osaka, western Japan. The remaining units will be disbanded. DDI will inject around 40 billion yen in au to clear its capital deficit. DDI is also scheduled to merge in October with international telecom carrier KDD Corp. and mobile-phone operator IDO Corp. After the three-way merger, the new DDI will swap shares with au and turn it into a wholly owned subsidiary by the end of March 2001, DDI President Yusai Okuyama told a news conference. Okinawa Cellular Telephone will continue to offer services in the Okinawa area, while au will offer services in the other regions. At the news conference, Okuyama also confirmed that the new DDI will enter local phone services, possibly from May 20001. AP-NY-07-28-00 0514EDT

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