Vodafone AirTouch PLC
30 March 2000
VODAFONE AIRTOUCH INTEGRATES JAPANESE OPERATIONS
Vodafone AirTouch Plc ('Vodafone AirTouch') announces today
that, together with its partners Japan Telecom and British
Telecom, it has agreed to restructure its interests in Japan
ahead of the start of the application process for the Third
Generation (3G) licences in early April 2000. The main purpose
of the restructuring is to integrate the existing 2G operating
companies, collectively known as the J-Phone Group, with the
IMT-2000 Planning Co., Ltd., the vehicle which was set up to
pursue 3G business opportunities in Japan, in which Vodafone
AirTouch has a direct 26% stake. Vodafone AirTouch and its
partners believe that the new structure will significantly
increase their ability to compete successfully in the fast
growing Japanese mobile telecommunications market.
IMT-2000 Planning Co., Ltd., which will be renamed J-Phone
Communications Co., Ltd. with effect from 1 April 2000, will
acquire a controlling interest of approximately 50% in the J-
Phone Group, following an issue of new shares by the J-Phone
Group. J-Phone Communications Co., Ltd. will be responsible
for the Group business plan and co-ordinate nationwide
technical planning. It will also assume responsibility for the
integration of the J-Phone Group, as well as financial
management, nationwide branding, marketing and communications,
and research and development.
The J-Phone Group encompasses nine operating companies
offering a nationwide mobile telecommunications service in
Japan and covers approximately 126 million POPs. Vodafone
AirTouch's current stake in the 9 operating companies ranges
from 20% to 29%. Following the completion of this transaction
Vodafone AirTouch's holding (both direct and indirect) will be
broadly unchanged and range between 23% and 27%.
For further information contact:
Terry Barwick, Director of Corporate Affairs,
Tim Brown, Investor Relations Director, or
Melissa Stimpson, Senior Investor Relations Manager
at Vodafone AirTouch Plc
Telephone +44 (0) 1635 33251
Lulu Bridges
at Tavistock Communications Limited
Telephone +44 (0) 20 7600 2288
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.