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Technology Stocks : Vodafone-Airtouch (NYSE: VOD) -- Ignore unavailable to you. Want to Upgrade?

To: David Wiggins who wrote (1990)	10/7/1999 7:50:00 AM
From: MrGreenJeans	Respond to of 3175

C&W sells Japanese interests to Vodafone Air LONDON, Oct 7 (Reuters) - Telecommunications group Cable & Wireless Plc (quote from Yahoo! UK & Ireland: CW.L) said on Thursday it would sell its mobile phone interests in Japan to Vodafone Airtouch (quote from Yahoo! UK & Ireland: VOD.L), the world's largest cellphone company, for $411 million. C&W is selling its stake in Digital Phone Group and its 2.5 percent holding in each of the six Digital Tuka companies which cover the rest of Japan. C&W will make a pre-tax profit of $389 million from the sale.

To: David Wiggins who wrote (1990)	10/7/1999 8:02:00 AM
From: MrGreenJeans	Read Replies (1) \| Respond to of 3175

Vodafone AirTouch Buys Japanese Mobile Telephone Stakes for $550 Million By Kate Norton Vodafone Buys Japan Mobile Phone Stakes for $550 Mln (Update1) (Adds analyst comment, background from 3rd paragraph.) London, Oct. 7 (Bloomberg) -- Vodafone AirTouch Plc, the world's largest wireless phone company, said it will pay $550 million to raise its stakes in Japan's nine regional mobile phone companies, boosting its position in a $46 billion market. Vodafone said it bought the entire equity stake owned by Cable & Wireless Plc in three mobile operators on Sept. 22, and acquired additional shares in six others from Japan Telecom Co. on Sept. 30. The transactions give it stakes of more than 20 percent in Japan's nine regional wireless operators. Berkshire, England-based Vodafone has moved swiftly to strengthen its position in large mobile markets since its $73.7 billion takeover of AirTouch Communications Inc. was completed in June. Last month it agreed to combine its U.S. wireless assets with those of Bell Atlantic Corp. to create a nationwide network with almost twice as many customers as its nearest rival. ``Having a stake of 20 percent or more makes a huge difference on the company, giving them influence on the local boards of directors,' said Jim McCafferty, an analyst with SG Securities, who has a ``buy' rating on the shares. Vodafone AirTouch shares rose 9 pence, or 3.2 percent, to 292 pence. C&W shares rose 12p, or 1.75 percent, to 697p. Japan Telecom fell 30,000 to 2.84 million yen. The Berkshire, England-based company said it also completed its purchase of Metrophone Service Co., Ltd., giving it 12 percent in J-Phone Tokyo Co., Ltd., a mobile phone unit of Japan Telecom. The transactions will make Vodafone AirTouch the second- largest shareholder in the regional carriers after Japan Telecom. Vodafone acquired its original holdings in Japan as part of the AirTouch purchase. ``By increasing its existing stake in those companies, Vodafone AirTouch will become a major national participant in Japan's rapidly expanding wireless market,' the company said in a statement. Growing Market The number of Japanese owning mobile phones grew from 32.3 percent in June 1998 to 39.4 percent in June 1999. The number of customers in the nine regional companies rose in the same period from 4.6 million to 6.8 million, a 47.8 percent increase, Vodafone AirTouch said. Japan's cellular phone market is dominated by NTT Mobile Communications Network Inc., or NTT DoCoMO, which has 26.3 million users. For C&W, the sale of its stakes in DigTokyo Digital Phone Co. Ltd., Kansai Digital Phone Co. Ltd., and Tokai Digital Phone Co. Ltd. for $411 million is the latest step in an effort to rid itself of its holdings in companies where it can't gain majority control. C&W, which held less than 10 percent of each company, said it expects to reap a $389 million pretax gain from the sale. ``This is pretty much what we expected to happen -- C&W has had these tiny stakes in Japan for such a long time and hasn't been able to do anything with them,' McCafferty said. C&W said its Japan operations will center on International Digital Communications Inc., the No. 2 Japanese long-distance company that it gained full control of earlier this year.