Bell Atlantic, Vodafone Airtouch Reportedly in Talks
About Joint Venture
By Lisa Levenson
(Editorial Comment: GREAT NEWS! IF TRUE)
Bell Atlantic, Vodafone Reportedly in Talks for Joint Venture
London, Aug. 25 (Bloomberg) -- Vodafone Airtouch Plc, the
world's largest wireless company, is reportedly in talks to form
a joint venture with Bell Atlantic Corp., three weeks after the
companies agreed to split their existing wireless venture.
The Times of London said Vodafone AirTouch Chief Executive
Chris Gent is in talks with Bell Atlantic, citing unidentified
sources close to Vodafone AirTouch. Analysts said the agreement
could involve a merger of Vodafone AirTouch's operations in the
western U.S. and Bell Atlantic's cellular unit, the paper said.
Both companies declined to comment.
A venture between Bell Atlantic, the No. 1 U.S. local phone
company, and Vodafone AirTouch could create a nationwide U.S.
wireless phone network. Vodafone AirTouch has said it will
consider buying or building new networks to extend its reach
across the U.S.
Vodafone completed its $74.4 billion purchase of AirTouch in
June, giving it cell networks on six continents, including a
system that blankets Europe.
Earlier this month, Bell Atlantic, which has 6.6 million
wireless customers, and Vodafone AirTouch agreed to split their
PrimeCo Personal Communications LP joint venture, ending a six-
month feud over the future of the cellular service provider.
Bell Atlantic decided in April to break up the venture,
three months after it lost a bidding war to Vodafone to buy
AirTouch Communications Inc., Bell Atlantic's original partner in
PrimeCo. The breakup left Vodafone AirTouch without service in
the Eastern U.S., while Bell Atlantic is set to become the No. 1
U.S. wireless provider following its $90.3 billion purchase of
GTE Corp. |
