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To: Ruffian who wrote (82183)	10/4/2000 2:44:02 PM
From: Cooters	Read Replies (1) \| Respond to of 152472

Mexico's Iusacell Soars 7.2% on Revived Wireless Asset Interest -From AOL.-- Cooters Mexico City, Oct. 4 (Bloomberg) -- Grupo Iusacell SA, Mexico's second-largest wireless company, soared 7.2 percent as investors bet it could become an acquisition target after reports that Spain's Telefonica SA is close to buying cellular assets in Mexico. Telefonica, the largest telecommunications company in Spain, said it's close to signing an agreement with Motorola Inc. to purchase its Mexican wireless-phone assets as a way to gain 1 million subscribers in Latin America's second-biggest country. The announcement rekindled investor interest in Iusacell, a unit of Verizon Communications, as it showed that the Mexico City- based company's assets may be undervalued. ``If reports are confirmed on the price Telefonica will pay, then that pushes Iusacell's value higher,'' said Francisco Rivero, head researcher of Santander Investment, who first reported the Motorola-Telefonica transaction in the securities firm daily report. ``For me, Iusacell also turns into an acquisition target.'' Spanish financial newspaper Cinco Dias said it will pay about 3 billion euros ($2.6 billion). Telefonica didn't give a price in a statement to stock market regulators. Motorola is in talks with ``several parties'' about buying the company's foreign wireless assets, said Albert Brashear, a spokesman. Shares of Iusacell traded in New York rose to 13 from 12 1/8 at yesterday's close. It was the biggest one-day gain since July 3, when they also rose 7.2 percent. The market got a boost then following the election of Vicente Fox, which ended the 71-year rule of the Institutional Revolutionary Party. Oct/04/2000 14:24 ET