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News
Issue #2002 - 01
(January 2002)
(Updated Jan.
9, 2002)
ACQUISITIONS,
MERGERS & AGREEMENTS
Verizon Wireless Acquires Wireless
Markets in the Southeast
Verizon Wireless has announced that it will acquire the wireless
business unit of Price Communications for $1.15-billion. Price
Communications serves more than 560,000 wireless customers in markets
throughout Georgia, Alabama, Florida and South Carolina.
Under the terms of the agreement, Price Communications and Verizon
Wireless will form a limited partnership consisting of Price’s
wireless operations and certain Verizon assets. The latter will
control and manage the partnership.
"This transaction greatly enhances the footprint and customer
based of Verizon Wireless operations in the fast-growing
Southeast," said Denny Strigl, president and CEO of Verizon.
He added that Verizon will convert Price networks to the CDMA
digital standard and deliver "more consistent service quality and
features to our customers as they roam along the eastern
seaboard."
The transaction is expected to close during the second quarter of
2002.
For more information: http://www.verizonwireless.com
Mobileinfo Comments & Advisory: This
will allow Verizon to provide more complete coverage for national
customers.
Note: This news release may contain
forward-looking statements. Readers should take appropriate caution in
developing plans utilizing these products, services and technology
architectures. All trademarks used in this summary are
the property of their respective owners.
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