Sprint Announces Investment in Pegaso PCS of Mexico
International Affiliation Includes Operational Role for Sprint PCS in Partnership With Pegaso
--From AOL. I think we already knew about this, so it must be the official announcement.-- Cooters
KANSAS CITY, Mo., and MEXICO CITY, March 16 /PRNewswire/ -- Sprint (NYSE: FON; PCS) and Pegaso PCS of Mexico today announced a definitive agreement that will allow the introduction of new cross border services and a close alignment between two of the largest all-digital, all-CDMA (Code Division Multiple Access), nationwide PCS networks in the world.
The agreement, the first international affiliation for Sprint PCS, includes a governance role for Sprint PCS on Pegaso's governing board and an investment of $200 million by Sprint PCS in the Mexican carrier.
"This agreement is the first international affiliate for Sprint PCS and an important step in offering a ubiquitous CDMA network in North America with a strong Mexican partner in Pegaso PCS," said Andrew Sukawaty, Sprint PCS president. "Together, with Pegaso PCS, we will offer customers on both sides of the border the superior clarity, nationwide coverage and value of our national PCS networks and unique offerings for both of our customer bases who demand cross-border services."
Alejandro Burillo Azcarraga, chairman of Pegaso PCS said, "We're delighted to become the first Mexican company to offer its customers access to top quality 100-percent digital wireless service in major North American cities. Sprint PCS' technological and operational expertise, together with Pegaso's profound knowledge of the market and experience in the Mexican telecom sector will enable us, together, to offer our customers seamless access to the most advanced wireless voice and data services in North America."
Pegaso PCS offers PCS service in Guadalajara, Monterrey and Tijuana. In addition, the company recently launched service in Mexico City, bringing the clarity of 100-percent digital CDMA wireless service to the largest city in the world. Sprint PCS and Pegaso will provide cross-border roaming services that allow Sprint PCS and Pegaso PCS customers to use their PCS phones simply and conveniently in major cities in both countries.
Sprint PCS operates the largest 100 percent digital, 100 percent PCS nationwide wireless network in the United States, already serving the majority of the nation's metropolitan areas including more than 4,000 cities and communities across the country. Sprint PCS has licensed PCS coverage of nearly 270 million people in all 50 states, Puerto Rico and the U.S. Virgin Islands. For more information, visit the Sprint PCS web site at sprintpcs.com . Sprint PCS is a wholly-owned tracking group of Sprint Corporation trading on the NYSE under the symbol "PCS."
Sprint is a global communications company at the forefront of integrating long-distance, local and wireless communications services, and one of the largest carriers of Internet traffic. Sprint built and operates the United States' first nationwide all-digital, fiber-optic network and is a leader in advanced data communications services. Sprint has $20 billion in annual revenues and serves more than 20 million business and residential customers.
Pegaso is a telephone and telecommunications company in Mexico currently composed of Grupo Pegaso, Grupo Televisa, Leap Wireless, Citicorp, LAIF and Nissho Iwai. With an initial investment greater than $1.3 billion dollars, Pegaso is deploying the first 100 percent digital network in Mexico. Pegaso launched PCS service in the country's four largest cities in 1999. Throughout 2000, Pegaso will offer service in 14 more cities completing national coverage by the end of 2001. Having acquired the necessary licenses to offer mobile and wireless local loop services, Pegaso expects to offer top-quality service to a significant share of the Mexican market in the coming years.
SOURCE Sprint PCS
CO: Sprint PCS; Pegaso PCS
ST: Missouri, Mexico
IN: TLS
SU:
03/16/2000 14:58 EST prnewswire.com |
