Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (35671)	7/19/1999 10:12:00 AM
From: Ruffian	Respond to of 152472

Airtouch Buys> Top Financial News Mon, 19 Jul 1999, 10:05am EDT Vodafone AirTouch to Buy CommNet Cellular of the U.S. for $1.36 Billion By Kate Norton Vodafone AirTouch to Buy CommNet Cellular for $1.36 Billion London, July 19 (Bloomberg) -- Vodafone AirTouch Plc, the world's largest wireless company, said it will buy CommNet Cellular Inc., a U.S. cellular phone company, for $1.36 billion in cash and debt, expanding its presence in nine western U.S. states. Vodafone AirTouch will pay $31 in cash for each CommNet share, 2.5 percent more than Friday's close, and will assume about $600 million in debt. CommNet holders will also receive 8 percent annual interest from July 18 until the sale is completed. ''The deal will add vast new regions to AirTouch's coverage area in the Western United States,'' Vodafone AirTouch said. The U.K. company has been seeking to expand in the U.S. amid uncertainty about the future of its PrimeCo alliance with Bell Atlantic Corp. New York-based Bell Atlantic has been seeking to break up PrimeCo after Vodafone beat it in a bidding war to acquire AirTouch in January. Colorado-based CommNet offers service in most of Colorado, Montana, North Dakota, South Dakota, Utah and Wyoming and parts of Idaho, Iowa and New Mexico. It also owns minority interests in operations in three other states. Vodafone AirTouch said it expects to complete the acquisition, which is being carried out through its AirTouch Cellular unit, in four to five months. Vodafone AirTouch shares rose as much as 32 pence, or 2.35 percent, to 1,391.