As was announced yesterday, the British operator VODAFONE is preparing to buy the 10% stake in JAPAN TELECOM, held by the American AT&T, which will enable it to increase to 25% its stake in the Japanese company. The transaction, which could total EUR 1.6 billion would place VODAFONE ahead of its fellow national BRITISH TELECOM (BT), which holds 20% of the Japanese operator. By increasing its stake in JAPAN TELECOM, VODAFONE will also increase its power in J-PHONE, mobile telephone subsidiary of the Japanese. VODAFONE already holds 26% of J-PHONE, the remainder of the company being held by BT (20%) and JAPAN TELECOM (54%). At the same time, VODAFONE and CHINA MOBILE, main Chinese mobile telephone operator, are on the verge of formalising a partnership with an agreement that should be signed before the end of the month. This partnership should not restrict itself to financial links, but could also cover licensing agreements, exchanges of personnel and technical cooperation. The British presently holds 2% of the Chinese operator.