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Technology Stocks : Nuevo Grupo Iusacell (CEL)

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To: Rob Preuss who started this subject	4/1/2001 12:47:57 PM
From: Dennis Roth	of 206

usacell Trims Down For Consolidation Wave/ Departing CEO [Comtex] e-topics.com Infolatina via NewsEdge Corporation : MEXICO CITY, Mar 29, 2001 (Reforma/Infolatina via COMTEX) -- It will take Mexican mobile carrier Grupo Iusacell at least several weeks to regroup its senior management structure, departing Iusacell Chairman and CEO Fulvio del Valle said. Del Valle said the company was in the process of trimming its management structure, to allow for more fluid and direct contact between clients and senior executives. He said the changes were intended to prepare Iusacell to confront an impending period of major consolidation in the Mexican telecommunications industry. Del Valle earlier this week announced he would leave Iusacell in early April to head up struggling local telephone company Maxcom. U.K.-based mobile giant Vodafone Group in January paid more than 900 million dollars for a 34.5-percent stake in Iusacell. Verizon Communications also owns a 39-percent stake in the company, considered Mexico's second-largest mobile carrier. Copyright 2001 Infolatina, all rights reserved. -0-

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