Bell Atlantic and Vodafone plan IPO of their Verizon Wireless joint venture

Article Abstract:

US-based Bell Atlantic Corp. and British-based Vodafone AirTouch PLC plan one of the largest initial public offerings (IPOs) in US history for joint venture company Verizon Wireless. Verizon is a combination of the companies' US paging and cellular businesses. Verizon is the largest US wireless provider and its forecasted value from the IPO is between $60-$70 billion.

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AirTouch to buy U S West Media wireless assets

Article Abstract:

AirTouch acquired U S West Media Group's domestic wireless operations for stock valued at $4.3 billion, as well as the assumption of $1.4 billion of debt. The deal will boost AirTouch to second place among domestic wireless provider, trailing only AT&T in size. Financial terms call for AirTouch to pay about $1.6 billion in newly issued dividend-bearing preferred stock and about $2.7 billion in AirTouch common shares. An Apr 1997 pact between the companies collapsed in Aug 1997 because of the closure of a federal tax loophole. The new deal, expected to close by mid-1998, will require AirTouch to pay more for the U S West operations but issue fewer shares. AirTouch, which currently serves about 3.9 million customers, seeks to strengthen its position as a dominant wireless player in the western US. U S Media Group, the cable-TV subsidiary of U S West, awaits a spinoff from the parent company.

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Liberty to buy Associated for $2.8 billion; stock deal gives firm 41% of Teligent and entree to fixed-wireless area

Article Abstract:

Liberty Media Group is acquiring Associated Group Inc., the majority owner of Teligent Inc. The deal, worth close to $2.8 billion in stock, gives Liberty a 41% interest in Teligent Inc., a provider of fixed-wireless, high-capacity telephone and Internet services. Liberty Media, a cable television broadcaster owned by AT&T Corp., is believed by industry analysts to be positioning itself as a major provider of two-way, broadband telecommunications services. Wall Street reacted by sending Liberty's shares down by 18.75 cents while Teligent's stock rose by $5.4375.

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