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

To: MrGreenJeans who wrote (1732)	4/13/1999 9:14:00 PM
From: MrGreenJeans	Read Replies (2) \| Respond to of 3175

Bell Atlantic to break pact with AirTouch By John Borland Staff Writer, CNET News.com April 13, 1999, 5:05 p.m. PT Bell Atlantic plans to break up the wireless phone joint venture it operates with AirTouch, according to a statement filed with the federal government today. PrimeCo PCS, a mobile phone venture operating in 18 states, was jointly created by the two companies in 1994. By the end of the 1998, it had about 900,000 subscribers. The joint venture had led to close relations between Bell Atlantic and the San Francisco-based AirTouch, eventually culminating in Bell Atlantic's bid last December to buy its mobile phone partner. But Bell Atlantic was outbid by the U.K.-based Vodafone Group in January. The Baby Bell immediately filed a law suit against AirTouch to ensure that a "non-compete" clause in the PrimeCo agreement would not prevent the expansion of Bell Atlantic's own wireless phone operation, but executives have been vague about the future of PrimeCo in public statements ever since. In a proxy statement filed with the Securities and Exchange Commission dealing with Bell Atlantic's merger with GTE, the company said it would dissolve the PrimeCo venture as soon as the Vodafone-AirTouch merger was complete. --------- Editorial Opinion: Bell Atlantic's loss will be another telecom's gain.