In a statement Tuesday morning, NTT DoCoMo acknowledged it had received notice about the acquisition and said, in light of the agreement, "is reviewing its options in an effort to contribute most to our shareholders' value." It gave no specifics about what options it was reviewing.
While the companies themselves were mum about the specifics sale process, press reports over the weekend and on Monday said that Cingular had increased its offer to $38 billion and that Vodafone was expected to match the offer. However, those reports led to a decline of Vodafone stocks as some European market analysts were outspoken in their distaste for the acquisition. Vodafone stock increased Tuesday after reports of Cingular's successful offer.
Vodafone owns a minority interest in Verizon Wireless. Cingular is a joint venture between SBC Communications and BellSouth Corp.
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