CAWS - Wireless Cable (New and Improved) Message Board

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Technology Stocks : CAWS - Wireless Cable (New and Improved)

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To: Russell Petruzzelli who wrote (547)	11/27/1996 8:32:00 AM
From: Joseph Moran	of 5812

From the Philadelphia Inquirer: Business News in Brief In the Region Bell to take over Mexican wireless firm Bell Atlantic Corp., Philadelphia, will take management control of its troubled Mexican partner, Grupo Iusacell SA, of which it owns 42 percent, in an attempt to salvage its $1 billion investment in the wireless company, Bloomberg Business News reported. The Carlos Peralta family, which has been running the company, will receive an option to sell its 48 percent stake in Iusacell during the next three years. Bell Atlantic will invest an additional $200 million in Iusacell. Bell Atlantic's investment in Mexico's second-largest wireless company has dwindled in value in the past three years. Now, Iusacell must prepare for an onslaught from carriers such as AT&T Corp. and MCI Communications Corp. as Mexico's $6.5 billion telecommunications market opens up to competition next year. Bell's NYSE close: $63, up 25 cents. Iusacell's NYSE close: $8.875, up $1.875.

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