DoCoMo up on Cingular deal

DoCoMo and parent NTT are higher in Wednesday trade. Story Tools YOUR E-MAIL ALERTS Follow the news that matters to you. Create your own alert to be notified on topics you're interested in. Or, visit Popular Alerts for suggestions. Manage alerts | What is this?

TOKYO, Japan -- Shares in Japan's largest mobile carrier, NTT DoCoMo, are 3.65 percent higher Wednesday on expectations it will get $6.5 billion in cash from the planned $41 billion takeover of AT&T Wireless by U.S. rival Cingular Wireless.

DoCoMo said Tuesday it expected to sell its 16 percent stake in AT&T Wireless at the $15 per share price offered by Cingular.

The U.S. company, which is a joint venture by SBC Communications and BellSouth Wireless, won a bidding duel with UK-based Vodafone for AT&T Wireless.

The proposed takeover will create the biggest mobile operator in the United States.

Shares in DoCoMo are trading at 227,000 yen in Tokyo. Parent NTT is 2 percent higher to 500,000 yen.

The broader market, measured by the Nikkei 225, is up about 0.4 percent in afternoon trade.

Story Tools		Subscribe to Time for $1.99

CNN/Money: Convictions in Tyco case • Oil prices hit record high • European stocks end higher • Toyota aims for $50,000 hydrogen car

CNN/Money: Security alert issued for 40 million credit cards • Bin Laden deputy sends message • U.S. House votes to keep U.N. dues • Iran poll to go to run-off