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To: Ramsey Su who wrote (11872)	6/29/1998 8:56:00 AM
From: 2brasil	Respond to of 152472

0T ****** RSL to buy Motorola Europe cellular unit NEW YORK, June 29 (Reuters) - RSL Communications Ltd. said Monday it had agreed to acquire Motorola Inc.'s (MOT - news) Motorola Tel.co, one of the largest independent providers of cellular air time services and related products in Europe, for $75 million in cash and the assumption of a working capital deficit of $25 million. RSL said it will cross-sell its existing services through Motorola Tel.co's distribution channel. Motorola Tel.co, a unit of Motorola's European Cellular Subscriber Group, operates in the UK, France, Germany and Belgium. In 1997 Motorola Tel.co had revenues in excess of $300 million. It has a customer base of about 480,000, comprised primarily of small and medium-sized businesses, and individuals affiliated with businesses. ''By acquiring a business with nearly half a million customers across Europe, RSL will now be able to provide bundled fixed-line and mobile services to a significantly expanded customer base at very attractive rates,'' Itzhak Fisher, RSL president and chief executive officer, said in a statement. The acquisition is subject to receipt of various third party and work council approvals and is expected to be completed during the third quarter.