Bell Atlantic, Vodafone Quick To Launch New Venture
asia.dailynews.yahoo.com
NEW YORK, NEW YORK, U.S.A., 2000 APR 3 (NB) -- By Steven Bonisteel, Newsbytes.
Just days after receiving approval from the Federal Communications Commission (FCC) to pool their US wireless operations, Bell Atlantic Corp. [NYSE:BEL] and Vodafone AirTouch [NYSE:VOD] say they're ready to launch their new joint venture.
The new company, which has been referred to as Cellco Partnership, is receiving the wireless licenses formerly held by Bell Atlantic Mobile (BAM} and by UK-based Vodafone's US operations.
The companies announced today that they would hold a coming-out press conference in New York for the combined venture Tuesday morning. At that time, they said, pricing packages for nationwide services would be announced.
BAM and Vodafone say the new entity's cellular, paging and PCS (personal communications services) services will be delivered on a network capable of reaching 49 of the top 50 wireless markets in the US, with the potential to reach 90 percent of the population.
Dennis Strigl, BAM's president and chief executive officer, who will hold the same titles in the new venture, said he was pleased that the FCC acted quickly to approve the transfer of the licenses late last week.
The companies first announced their plans to form the wireless partnership in September of 1999.
The companies' boast that the new venture will have the potential to reach 90 percent of the population is based on the assumption that regulators will approve a pending merger between Bell Atlantic and GTE Corp. [NYSE:GTE]. Adding GTE's US wireless business to the mix, the operation would be the largest wireless company in the nation, with more than 23 million cellular and users and nearly 4 million paging customers.
Such a combined network would reach 96 of the 100 top US wireless markets via 232 network points of presence, the companies say.
The completion of any Bell Atlantic/GTE merger is not expected until the second quarter of this year.
Bell Atlantic Mobile's Web site is at bam.com .
Vodafone's Web site is at vodafone.com . |
