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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 152.76

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To: Gregg Powers who wrote (21377)	1/15/1999 11:33:00 PM
From: DaveMG	Read Replies (1) of 152472

Hi Gregg... I suppose you already knew about this. Any chance you might be able to provide us with some insight into how this merger will affect WCDMA/CDMA2000 convergence?///Thanks...Dave biz.yahoo.com SAN FRANCISCO, Jan 15 (Reuters) - AirTouch Communications Inc., the world's largest wireless company, said it agreed to merge with Britain's Vodafone Group Plc., in a stock deal valued at about $56 billion. The companies issued a news release late Friday evening just hours after Bell Atlantic Corp. said it had pulled out of merger talks with San Francisco-based AirTouch. Both Bell Atlantic and Vodafone had been in a bidding war for AirTouch. Under the terms of the agreement, which has been approved by each of the company's board of directors, AirTouch stockholders will be entitled to receive five Vodafone ordinary shares (equivalent to 0.5 Vodafone American Depositary Receipt), plus $9 cash for each share of AirTouch common stock held at closing. The merger is considered valued at $97 per AirTouch common share, based on Jan. 15 closing stock prices and the Vodafone ADR closing price of $176. The transaction is expected to be predominantly tax free to AirTouch stockholders. AirTouch has about 573 million common shares outstanding. The combined company, to be known as Vodafone AirTouch Plc, will reach nearly one billion people in 23 countries on four continents. Serving over 23 million proportionate cellular and PCS (personal communication systems) customers, Vodafone Airtouch will be the largest wireless company in the world by a substantial margin, the companies said.

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