Bell Atlantic Repurchase Clarification
August 15, 1997
David Frail, 212-395-0500
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NEW YORK, N.Y., August 15, 1997 -- Bell Atlantic
Corp. (NYSE:BEL) said today that the company has no current plans
to initiate a share repurchase program.
Under a previous authorization, the company
may repurchase up to $1 billion of its common stock at management's
The company said earlier today that it will
follow pooling of interests accounting rules following its merger
with NYNEX Corporation. Under those rules, the company may not
repurchase more than 35 million shares in the two years following
the close of the merger.