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Technology Stocks : Nuevo Grupo Iusacell (CEL)

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To: Rob Preuss who wrote (43)2/10/2000 3:56:00 PM
From: Nancy Haft  Read Replies (4) of 206
 
Competition plans to offer wireless internet this summer, CEL uncertain of date for this service.


Mexico's Telcel, Pegaso to Start Cellular Internet Services

Mexico City, Feb. 9 (Bloomberg) -- The cellular unit of Telefonos de Mexico SA, Mexico's largest telephone company, and cellular operator Pegaso PCS SA plan plan to offer customers the ability to get Internet messages on their wireless phones.

Clients of Telmex's Telcel, the country's biggest cellular company, and the fledging Pegaso, will be able to receive Internet messages and news and weather alerts on the screens of their wireless phones, the companies said.

The technology is the first step toward introducing full Internet services via which users will be able to surf the Internet, buy and sell stock and send electronic mail over their cellular telephones. Pegaso plans to introduce that service by midyear while Telcel expects it to be available by June, the companies said.

Pegaso is transforming ``its mobile telephones into information centers that allow the user to enter the infinite world of the Internet without needing a computer,' said Pegaso in a statement released at an international telecommunications exhibition in Mexico City.

The introduction of mobile cellular services could further accelerate growth in Mexico's cellular industry and bolster companies' client bases. Telcel added 1 million customers in the fourth quarter of last year while the number of wireless telephones ballooned 140 percent in 1999.

Nuevo Grupo Iusacell SA, Mexico's second-largest telephone company controlled by Bell Atlantic Corp., is developing similar technology although it doesn't have a date when services will be available, a company spokesman said.

Pegaso, part-owned by Mexican broadcaster Grupo Televisa SA and San Diego-based Leap Wireless International Inc., expects to announce the cost of the service to consumers next week, said Eduardo Jimenez, Pegaso's communications officer.

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I doubled up last 5 JAN and wish I had tripled up. Maybe the strong action today is in anticipation of earnings, or maybe the earnings have leaked out or have come out in Mexico and not yet hit the wires here. Geez, speculation is endless . . .

Oh yeah, and thanks for the introduction to Stockman. I'm not familiar with him or his site. Will take a look.
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