Vodafone and AirTouch Complete Merger [nice quotes at bottom]
Wednesday June 30, 10:18 am Eastern Time
Company Press Release
BERKSHIRE, England--(BUSINESS WIRE)--June 30, 1999--Vodafone Group Plc
(''Vodafone'') and AirTouch Communications, Inc. (''AirTouch'') today confirmed the
completion of the merger of the two companies. The merger was first announced on 15 January 1999. Trading on the London
Stock Exchange of the ordinary shares in the combined company, renamed Vodafone AirTouch Plc, commence at 9:00 am
(London Time) today. Trading on the New York Stock Exchange of the ADRs of Vodafone AirTouch Plc will commence at
9:30 am (New York time) today. At the opening of business, the Company's Issued share capital comprised 6,086,728,614
ordinary shares of US$0.10 each and 50,000 7% fixed rate shares of 1 pound sterling each.
The last day of trading on the New York Stock Exchange in AirTouch stock was Tuesday, 29 June, with AirTouch stock
leaving the Standard & Poor's 500 at that time.
The completion of the merger will create the world's largest mobile telecommunications company with over 29 million
proportionate customers and a combined market capital of approximately 77 billion pound sterling ($1.22 billion). On the basis
of the combined market values of Vodafone and AirTouch on 29 June, Vodafone AirTouch Plc will be the second largest
company in the FTSE-100 Index.
Commenting, Chris Gent, Chief Executive of Vodafone AirTouch Plc said: ''The creation of Vodafone AirTouch brings
together the two most successful companies in the wireless industry to create a truly global enterprise. It more than doubles our
potential for growth in both conventional cellular and in the new services which will mark the arrival of the wireless information
age. We believe that we are now on the threshold of a new and exciting stage in the development of one of the best business
opportunities available in the world today.''
Sam Ginn, Chairman of the new Company, commented: ''Today marks the culmination of six months of hard work by
Vodafone and AirTouch. They are transitioning from two strong companies into one global wireless powerhouse. Going
forward, our combined operating and financial strengths position us to lead the wireless revolution well into the next century.''
Contact:
Vodafone AirTouch Plc
Ken Hydon
Financial Director
01635-33251
More Quotes
and News:
ATI - news
Vodafone Group PLC (NYSE:VOD - news)
Related News Categories: computers, telecom
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