Japanese Operations Integrated

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
UK 100

Latest directors dealings