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Technology Stocks : Leap Wireless International (LWIN)

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To: J.B.C. who started this subject	3/7/2002 8:54:53 AM
From: Dennis Roth	Read Replies (1) of 2737

Moviles to buy 65 pct of Mexico mobile operator Pegaso for undisclosed sum library.northernlight.com MADRID (AFX) - Telefonica SA unit Telefonica Moviles SA has signed a letter of intent to buy 65 pct of Mexican wireless operator Pegaso for an undisclosed fee, chairman Cesar Alierta told investors and analysts in Seville. In a statement, Telefonica said Alierta also told investors that the group plans to integrate Pegaso into its existing Mexican unit Telefonica Moviles Mexico. The acquisition will catapult Telefonica into Mexico's second largest mobile operator, and forms part of the group's "selective expansion strategy for Latin America, principally targeting Mexico and Brazil." Separately, Alierta also said that the group expects to have a total of 100 mln clients by the end of 2004, with 13 mln broad band customers by 2005, of which 4 mln will be ADSL and 8.5 mln GPRS and UMTS. fb/jlw NNN Copyright AFX 2002, All Rights Reserved.

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