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Technology Stocks : Nuevo Grupo Iusacell (CEL)

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To: Rob Preuss who started this subject	4/4/2001 4:43:28 PM
From: Dennis Roth	of 206

Mexico's Grupo Peralta sells 34.5% Iusacell stake to Vodafone [Bridge Information Systems] e-topics.com BridgeNews Bulletins via NewsEdge Corporation : Mexico City, April 3 (BridgeNews) - Mexico's second largest cellular telephone provider Grupo Iusacell said that Grupo Peralta sold its 34.5% equity stake in Iusacell to the Vodafone Group through a stock exchange crossing. The weighted average price per share was 18.59 pesos, representing a 138% premium to the last closing price. The Peralta family sold its shares for a total of some $973.4, according to the Vodafone Group. The acquisition now partners Vodafone with Verizone Communications, which owns a 37% stake in Iusacell. Grupo Iusacell has already approved new bylaws and a new Board of Directors, effective upon the closing of Vodafone's purchase. Former Iusacell President Fulvio Del Valle also has resigned from the company due to personal reasons, effective effective April 15. Iusacell's Chief Executive Officer Fares F. Salloum will assume the president's position until a replacement is found, the company said. Vodafone officials have said they see "enormous" expansion opportunities with Iusacell, which currently has some 1.5 million cellular customers in Mexico. That number represents only some 2.2% subscriber penetration in its four cellular regions. End <<BridgeNews Bulletins -- 04/03/01>> ----------------- I see now that this is a follow up to your message #85 Message 15142360 from last January and isn't really new news.

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