Quincy, All, Sprint Primeco, HNL;
Sprint to Acquire Hawaii PCS Operations From PrimeCo;
System to Become Part of Sprint PCS Nationwide Wireless
Network
PRNewswire
KANSAS CITY, Mo., Oct. 13 /PRNewswire/
-- Sprint and PrimeCo Personal
Communications, L.P., today announced Sprint
will acquire PrimeCo's Hawaii PCS license and
operations. The acquisition includes the Hawaii
MTA PCS license, all PCS infrastructure, retail
operations, employees, customer accounts and
associated assets. Sprint is making the acquisition
through SprintCom, Inc., a wholly-owned
subsidiary, and will assume full control of the
operation upon regulatory approval and
fulfillment of other closing conditions.
"This acquisition brings another important market into the growing Sprint
PCS nationwide network and allows us to offer Sprint-branded wireless
service to Hawaii consumers and businesses," said William T. Esrey,
chairman and chief executive officer of Sprint.
Sale of the operation, which was initiated late last year, is also strategic for
PrimeCo, according to Lowell McAdam, PrimeCo's president and chief
executive officer. "PrimeCo's business strategy is to be the premier regional
provider of PCS service to Mainland markets, and this move allows us to
focus on our key service areas."
According to Sprint PCS chief executive officer Andrew Sukawaty,
PrimeCo Hawaii customers will now become a part of Sprint PCS'
nationwide network. "We welcome our new Hawaiian customers," he said.
"Joining the Sprint PCS family will mean they will soon be able to use their
PCS phones in 163 metropolitan markets on the Mainland and become part
of the largest 100 percent CDMA network in the world."
Terms of the acquisition arrangements, which were signed on Sept. 24,
1998, are not being disclosed.
Sprint is a global communications company -- at the forefront in integrating
long distance, local and wireless communications services and one of the
world's largest carriers of Internet traffic. Sprint built and operates the
United States' only nationwide all-digital, fiber optic network and is the
leader in advanced data communications services. Sprint has $15 billion in
annual revenues and serves more than 16 million business and residential
customers.
Sprint PCS has the largest 100 percent digital, 100 percent PCS nationwide
wireless network in the United States, already serving 163 metropolitan
markets which include more than 4,000 cities and communities across the
country. Sprint PCS, together with its affiliates and [ Sprint Corporation ] ,
has licensed PCS coverage of nearly 270 million people in all 50 states,
Puerto Rico and the U.S. Virgin Islands. Sprint PCS is a partnership of
Sprint Corporation, [ Tele-Communications, Inc. ] (TCI), [ Cox
Communications, Inc. ] and [ Comcast Corporation ] .
In May 1998, under a restructuring agreement reached by the four partners,
Sprint announced it will assume ownership and management control of
Sprint PCS. This is to occur through a series of steps that include issuing
shares of new common stock to the cable partners in exchange for their
interests in the company and to the public in an initial public offering. The
new common stock will track Sprint's wireless operation.
PrimeCo Personal Communications, which is owned by [ AirTouch
Communications ] and [ Bell ] Atlantic, provides digital wireless services in
Alabama, Florida, Illinois, Louisiana, Texas, Virginia and Wisconsin. The
company has PCS licenses covering about 60 million potential customers in
10 major trading areas and has nearly 3,100 employees. At the end of the
second quarter 1998, PrimeCo had more than 598,000 subscribers.
PrimeCo phones and services are sold through the company's 83 stores and
kiosks, its business-to-business direct sales force, about 2,200 indirect
retailers and its toll free telephone sales line 1-800-PRIMECO(SM). The
address for PrimeCo's interactive Web site is www.primeco.com.
SOURCE Sprint
(Copyright 1998)
_____via IntellX_____
Publication Date: October 13, 1998
Powered by NewsReal's IndustryWatch
...back to top
|
