The New Qualcomm - a S&P500 company Message Board

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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 159.42

-1.2%

Jan 16 9:30 AM EST

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To: SKIP PAUL who wrote (8234)	4/3/2000 1:25:00 PM
From: slacker711	Read Replies (3) of 13582

Let the price wars begin.... Bell Atlantic, Vodafone seal wireless venture NEW YORK, April 3 (Reuters) - U.S. local telephone company Bell Atlantic Corp. and Britain's wireless carrier Vodafone AirTouch Plc said on Monday they combined their U.S. wireless and paging operations to form a new company that will become the biggest wireless carrier in the United States. Bell Atlantic (NYSE:BEL - news) and Vodafone (quote from Yahoo! UK & Ireland: VOD.L) said they will unveil a name for the new wireless company, which will top such wireless carriers as AT&T Corp. and Sprint PCS, and set a new national pricing structure at a press conference on Tuesday. The new brand name will be Verison, according to various media reports. Bell Atlantic and Vodafone first announced plans to combined their U.S. wireless operations in September 1999. The partnership will be further strengthened once Bell Atlantic completes its planned acquisition of GTE Corp. (NYSE:GTE - news) later this spring. Bell Atlantic and Vodafone are considering launching an initial public offering of a tracking stock for the wireless venture, but no final decision has been made, sources familiar with the situation said on Sunday. Bell Atlantic declined to comment. Vodafone could not be immediately reached for comment. Including GTE's U.S. wireless business, Verison would rank as the nation's largest wireless company, serving more than 23 million wireless customers. Its networks will reach over 90 percent of the U.S. population and 96 of the top 100 U.S. wireless markets. The venture will compete against a wireless joint venture being considered by BellSouth Corp. (NYSE:BLS - news) and SBC Communications Inc. (NYSE:SBC - news), as well as existing national wireless carriers such as AT&T (NYSE:T - news) and Sprint PCS. (NYSE:PCS - news) SBC and BellSouth, meanwhile, continue discussions to combine their wireless operations and create a tracking stock for the group. An announcement could be made as early as this week, sources familiar with the situation said. SBC and BellSouth declined to comment.

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