The balance of the 406 million shares came from the issuance of 228 million new primary shares of AT&T Wireless tracking stock at $27 per share (att.com). "Combining the strengths of these two industry leaders will speed a new generation of mobile data services to AT&T Wireless customers throughout North America. I can't think of a better gift for our customers as we prepare to spin-off AT&T Wireless as a separate company," said the AT&T Chairman. The following terms of the deal included:
" AT&T Wireless was licensed from NTT DoCoMo its i-mode technology platform.
" The companies became partners in the U.S. and Japan for handling the wireless needs of multinational companies and traffic on each other's network.
" NTT DoCoMo obtained a seat on AT&T's Board of Directors until AT&T Wireless is spun off from AT&T as a separate public company later next year.
" When the new subsidiary came to fruition, NTT DoCoMo retained representation on the new public wireless company's board, and both companies will agree on certain key executives for the multi-media subsidiary.
Both companies benefited from a buying consortium for network equipment and handsets. Additionally, "AT&T Wireless was one of the first major companies in North America to deploy a network based upon the Universal Mobile Telecommunications System (UMTS) global standard, which is also known as wideband code division multiple access (WCDMA). By mid-2001 in Japan, NTT DoCoMo was the first carrier in the world to offer advanced mobile multi-media services using WCDMA.