Deal to create biggest U.S. wireless network
Article Abstract:
Bell Atlantic Corp. and Vodafone Airtouch PLC signed a contract to combine their US wireless operations and create the country's largest network. The contract will allow the two companies to compete with the biggest US cellular telephone services -companies like AT&T and Sprint Corp. Bell Atlantic, which will complete a year 2000 merger with GTE Corp., will then have approximately 20 million subscribers. AT&T counts its customers at 11 million. Bell Atlantic will also become a player in the global marketplace because of this contract with Vodafone because Vodafone merged with Airtouch Communications earlier in the year, a merger that Bell Atlantic tried for and lost. Not only will market-share be boosted for both companies, but many subscribers are increasingly relying on cellular telephones for all of their telecommunication needs, both in the US and globally. Wall Street reacted very positively to the news of the contract agreement.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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Bell Atlantic and Vodafone, once enemies, are now allies
Article Abstract:
Bell Atlantic and Vodafone Airtouch are reportedly in negotiations to form a company comprised of their U.S. cellular phone businesses. The merged operation would have 2.34 mil customers and a $70 bil to $80 bil value. In early 1999, Bell Atlantic and Vodafone had each submitted rival bids for Airtouch Communications. At the time some analysts said it would be better if Bell Atlantic got the U.S. Airtouch properties while Vodafone acquired Airtouch's international businesses.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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