NTT DoCoMo Takes 16-Percent Stake in AT&T; Wireless for $9.9B
DEBORAH MARCHINI, CNN ANCHOR: After weeks of speculation, Japan's biggest wireless phone company has confirmed plans to buy a stake in AT&T; Wireless.</s>DAVID HAFFENREFFER, CNN ANCHOR: Janine Graham sums up the day in Asia from our studios in Hong Kong. Good morning, Janine.</s>JANINE GRAHAM, CNN CORRESPONDENT: Good morning, David and Deborah. Well, after months in rumor mill, it's finally a done deal, wireless giant NTT DoCoMo is taking a 16-percent stake in AT&T; Wireless for $9.9 billion. The alliance with AT&T; Wireless gives DoCoMo its first foothold in the lucrative U.S. market. In return, AT&T; Wireless will gain access to DoCoMo's wireless technology and services. And DoCoMo is the world's biggest wireless company by market cap. And DoCoMo shares jumped 3 1/3 percent ahead of the announcement. On the broader market, the Tokyo Nikkei average advanced nearly 1 percent, helped by bargain hunting. But other key markets stayed in the red, as tech shares continue to be pressured by the Nasdaq's weakness. Hong Kong fell 1 1/3 percent to its lowest level since May, and Taipei tumbled more than 1 percent. And Gateway's profit warning and signs that holiday sales of electronics and computers in the United States may fall short of expectations renewed fears that the tech sector may face more weakness ahead. Well, the United States is Taiwan's biggest export market. Well, David and Deborah, back to both in New York.</s>MARCHINI: All right, thank you, Janine. Janine Graham reporting live from Hong Kong.