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UK's Vodafone poised to deepen foray into Japan
Posted: 26-Feb-2001 [Source: Reuters]

[Vodafone looking to purhcase AT&T's stake in J-Phone raising its interest from 26% to 40% with sights on BT's stake as well.]

by Alessanadra Galloni, London -- "Britain's Vodafone Group Plc (quote from Yahoo! UK & Ireland: VOD.L) is poised to increase its foothold in Japan's fast-growing mobile phone market by raising its stake in Japan Telecom to 25 percent, an industry source said on Sunday.

"Vodafone, the world's largest wireless carrier, could announce a deal to buy U.S. firm AT&T Corp.'s (NYSE:T - news) 10 percent stake in Japan's third largest carrier as early as this week, the source told Reuters.

"There have been talks... It's pretty close to being done. The hope would be this week," the source said.

"AT&T declined to comment. "We do not comment on this ... we don't make preannouncements," an AT&T spokeswoman said on Sunday. "It is true that AT&T has said was not continuing to hold its share in JT (Japan Telecom)."

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