Vodafone AirTouch - Frthr re Joint Venture etc
03 Abril 2000 - 10:51AM
UK Regulatory
RNS Number:4165I
Vodafone AirTouch PLC
3 April 2000
BELL ATLANTIC AND VODAFONE AIRTOUCH COMPLETE COMBINATION OF U.S. WIRELESS
BUSINESSES
With GTE, To Create Nation's Largest Wireless Company With Unsurpassed
Scale and Scope
New Company to Hold News Conference on Tuesday
NEW YORK AND LONDON - Bell Atlantic Corp. (NYSE:BEL) and Vodafone
AirTouch Plc (NYSE and LSE: VOD) today announced that they have
combined their U.S. cellular, paging and PCS businesses and formed a
new nationwide competitor that will offer its wireless products and
services coast-to-coast under a new brand name. All necessary
approvals have been received. The companies first announced plans to
combine their U.S. wireless businesses six months ago on September 21,
1999.
The new wireless company will be further strengthened following the
completion of the Bell Atlantic - GTE Corp. (NYSE:GTE) merger, which is
targeted for later in the second quarter. Including additions from
GTE's domestic wireless business, the new company will rank as the
nation's largest wireless company by far, serving more than 23 million
wireless and nearly 4 million paging customers. Its nationwide
footprint will cover over 90 percent of the U.S. population and 96 of
the top 100 U.S. wireless markets, with 232 million net POPs.
The Bell Atlantic-Vodafone AirTouch wireless agreement and the Bell
Atlantic-GTE merger are independent transactions. The completion of
one is not contingent upon completion of the other.
Prior to the close of this transaction, Bell Atlantic completed an
exchange of wireless interests with ALLTEL Corp. (NYSE: AT), including
certain dispositions of properties required by the Department of
Justice in order to complete the transaction with Vodafone AirTouch.
MEDIA CONTACTS: INVESTOR CONTACTS:
Jim Gerace John Killian
Wireless Company Wireless Company and Bell Atlantic
+1 (908) 306-7508 +1 (212) 395-1152
Susan Kraus
Bell Atlantic
+1 (212) 395-0500
VODAFONE AIRTOUCH
Terry Barwick Melissa Stimpson
Vodafone AirTouch Vodafone AirTouch
+44 (1635) 682 465 +44 (1635) 682 465
Kathy Reinhart Lulu Bridges
Vodafone AirTouch Tavistock Communications
+1 (415) 658-2042 +44 (207) 600 2288
Note to Editors:
Tomorrow, April 4, the new wireless company will hold a press conference
and Webcast to announce a new, industry-leading pricing plan under a
new national brand identity.
WHAT: New wireless company press conference and Webcast, featuring:
* Ivan Seidenberg, Chairman, President and CEO of Bell
Atlantic Corp.
* Dennis Strigl, President and CEO of Bell Atlantic Mobile
and President and CEO of the new wireless company
* Lowell McAdam, CEO of PrimeCo Personal Communications and
COO of the new wireless company
WHEN: Tuesday, April 4, 2000
11:00 AM - 12:00 Noon (EST)
WHERE: The Millennium Hotel's Hudson Theater, New York City
145 West 44th Street (between Broadway and 6th Avenue)
Call-In: Dial 1-800-530-9601 in the U.S.
Dial 212-346-6462 outside the U.S.
Webcast: URL to be announced
B-Roll: Available for download at 2:00 p.m.
Coordinates: C_BAND:/TRANSPONDER/AUDIO 6.2 & 6.8
END
JVESSAFIDSSSEDL
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