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Byline: Charles Smith
TOKYO ? Japanese mobile phone operator NTT DoCoMo Inc. has been rocked by huge losses stemming from its cash acquisition of stakes in foreign telecom companies.
DoCoMo said April 4 that it will recognize losses of ?812.7 billion ($6.15 billion) on investments in the four overseas telecom operators, when it announces its business results in early May for the year ended March 2001.
The losses, which include a write-down of ?506 billion in the value of DoCoMo's 16% stake in AT&T Wireless Services, will force the company into the red for the first time since it was listed on the first section of the Tokyo Stock Exchange in Oct.…