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Technology Stocks : CAWS - Wireless Cable (New and Improved)
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To: Rodney Lockhart who wrote (21)10/31/1996 4:01:00 PM
From: Joseph Moran   of 5812
 
Thursday, October 31, 1996

Bell Atlantic Corp will invest $6 to $7 billion per year in infrastructure once it completes its
merger with Nynex Corp , chief executive Raymond Smith said.

"We're going to be putting something like $6 to $7 billion in our territory" per year, Smith told the Chief Executive Club of
Boston.

Investments will include more than $5 billion in basic network infrastructure such as ISDN and ASDL, and an additional $1 to
$1.2 billion in cellular services, he said.

Smith said he expects the merger will be completed in the first quarter and will result in additional jobs, although he declined to
be more specific.

He said it would take six to seven years to fully build an ISDN network across the merged company's region. Until then the
company is installing ASDL.

He said about 35 percent of Bell Atlantic's capital spending will go to outside plant fiber optics after the merger, a third on new
switching and upgrading to digital, and the rest on computers and networks.

Smith said he was glad a merger with Tele-Communications Inc fell through because competition from satellites and telephone
companies will cut cable TV subscribers and cash flow.

"I am definately relieved, yes," he told reporters. "I pulled away from the deal."

Smith said the two companies had a difference of opinion on the value of cable properties before their talks fell apart in 1993.

He also said that TCI would have a difficult time upgrading its plant to meet competition.
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