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Technology Stocks : Vodafone-Airtouch (NYSE: VOD) -- Ignore unavailable to you. Want to Upgrade?

To: MrGreenJeans who wrote (1920)	9/12/1999 3:12:00 PM
From: MrGreenJeans	Read Replies (1) \| Respond to of 3175

Bell Atlantic confirms Vodafone U.S. deal talks NEW YORK, Sept 12 (Reuters) - Bell Atlantic Corp. (NYSE:BEL - news), the largest U.S. telephone company, confirmed Sunday that it is holding talks with Vodafone AirTouch Plc (quote from Yahoo! UK & Ireland: VOD.L), the world's largest wireless telephone company, about establishing ``a U.S. business relationship.' Bell Atlantic issued the statement Sunday following one from Vodafone on Sept. 6 about the discussions. The statement also followed a New York Times article Sunday saying that, if the talks went well, the companies could form a nationwide wireless company valued at between $70 billion and $80 billion. Bell Atlantic, a provider of local telephone services in the northeastern United States, was not specific about what type of ``U.S. business relationship' would emerge from the discussions. Any deal to form a nationwide wireless network would pit it against AT&T Corp. (NYSE:T - news) and Sprint Corp.(NYSE:FON - news) There could be no assurances that a deal would result from the discussions and a timetable had not been established to conclude the talks, Bell Atlantic said. Analysts said last week that Vodafone chief executive Chris Gent told them that the talks with Bell Atlantic had only a 20 to 30 percent chance of succeeding. The New York Times quoted people close to the talks as saying, however, that if the negotiations were successful, ``and there is no guarantee that they will be,' a deal could be announced as early as this week. Bell Atlantic, which has 10 million wireless customers worldwide, said it would not make a comment about the talks until a definite agreement had been reached, or the discussions had been terminated. The New York Times said people close to the talks told the newspaper that Bell Atlantic would own 55 percent of any newly combined wireless company in the United States, with Vodafone owning the remainder. Vodafone won a bidding war against Bell Atlantic to acquire AirTouch earlier this year in a $60 billion cash and stock deal. The deal gave Vodafone a strong presence in the western United States. The New York Times said executives from both companies have been working on determining the new company's value, its management and the appointments to its board. Bell Atlantic has been completing a $52.9 billion merger with GTE Corp. (NYSE:GTE - news), a company with major Internet and wireless services divisions.