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Technology Stocks : Nuevo Grupo Iusacell (CEL) -- Ignore unavailable to you. Want to Upgrade?

To: Rob Preuss who wrote (26)	12/17/1999 3:18:00 PM
From: Nancy Haft	Read Replies (2) \| Respond to of 206

Friday December 17, 11:22 am Eastern Time Sprint may take stake in Mexico wireless firm KANSAS CITY, Mo., Dec 17 (Reuters) - Telecommunications company Sprint Corp. (NYSE:FON - news) and Mexican wireless company Pegaso PCS on Friday signed a memorandum of understanding under which Sprint may pay up to $250 million and take a 30.5 percent interest in Pegaso. If the deal is completed it could lead to the introduction of new cross-border services a close alignment between the two largest all-digital, code division multiple access, nationwide personal communication systems networks in the world, the companies said. The memorandum is not binding, but requires that the parties negotiate exclusively to reach a definitive agreement as early as the first quarter of 2000. A definitive agreement would include a governance role for Sprint PCS on Pegaso's governing board, the companies said. ''The technological and operational similarities between Sprint PCS and Pegaso PCS make this affiliation a natural fit for both companies,'' said Andrew Sukawaty, Sprint PCS president, said in a news release. ''Together, we'll be in position to offer customers on both sides of the border the superior clarity, nationwide coverage and value of our national PCS networks.'' Sprint PCS (NYSE:PCS - news), a unit of Sprint, also trades separately as a tracking stock. Pegaso is a telephone and telecommunications company in Mexico currently composed of Grupo Pegaso, Grupo Televisa SA de CV , Leap Wireless Inc. (NasdaqNM:LWIN - news), Citigroup's (NYSE:C - news) Citicorp and Nissho Iwai Corp.