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To: ms.smartest.person who wrote (93)	1/16/2001 11:25:50 PM
From: ms.smartest.person	Read Replies (1) \| Respond to of 2248

NTT DoCoMo Drops Bid for Australia's Optus, FT Says (Update2) By Ann Saphir Tokyo, Jan. 17 (Bloomberg) -- NTT DoCoMo Inc., Japan's largest mobile phone company, has abandoned its bid for the mobile arm of Australia's Cable & Wireless Optus Ltd., the Financial Times said on its Web site, without citing sources. The decision to pull out of the bidding reflects NTT DoCoMo's increasingly stretched finances after its $9.8 billion agreement to buy a 16 percent stake in AT&T Wireless of the U.S. and investments in new mobile phone services, the report said. Bidders for an estimated $10 billion takeover of Optus assets include Singapore Telecommunications Ltd., U.K.'s Vodafone Plc and Telecom Corp. of New Zealand. Hong Kong's Hutchison Whampoa and Germany's Deutsche Telekom AG are also said to be bidding. DoCoMo has never said it is interested in Optus. ``We are in talks with various companies about various levels of alliances, and we can't comment on what company we talk to and what we talk to them about,'' DoCoMo spokeswoman Michiko Mori said. NTT DoCoMo has said it hopes to raise as much as 800 billion yen through a new share offering in early February to help pay back loans of 1.8 trillion yen extended to buy stakes in overseas telecommunications carriers. DoCoMo's American depositary receipts traded in the United States rose $6.50, or 7.9 percent, to $88.50. That translates to an implied price of 2.09 million yen, up from DoCoMo's close Tuesday at 2.05 million yen in Japanese trading. The Tokyo-based company's shares rose as much as 80,000 yen, or 4 percent, to 2.13 million yen. (Financial Times, 1/16) For the Financial Times Web site, see {FITM } quote.bloomberg.com