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Bell Atlantic Terminates Discussions in Mexico
November 19, 1999
| Media contact: | Steve Fleischer, |
New York, NY -- Bell Atlantic today announced that discussions
regarding a potential combination of its Nuevo Grupo Iusacell, S.A. de
C.V. (NYSE: CEL; BMV: IUSACELL) wireless properties in Mexico and
cellular properties in the four northern regions of the country have been
terminated.
"We will continue to explore options to create a nationwide footprint
in Mexico through current licenses, acquisitions, joint ventures, or even
commercial resale agreements," said Bell Atlantic International
Wireless President and CEO Thomas A. Bartlett. "We remain
committed to the Mexican market and to Iusacell's ability to sustain
industry-leading growth and profitability levels in one of Latin America's
most valuable markets."
The Bell Atlantic Global Wireless Group, a subsidiary of Bell Atlantic
Corporation (NYSE: BEL), is one of the world's largest wireless
communications companies, with US wireless operations in 24 states and
international investments in Latin America, Europe and the Pacific Rim.
Worldwide wireless holdings total 187-million proportionate POPs
(people in markets served), with more than half in high-growth
international markets like Italy, Mexico, and Greece. The worldwide
proportionate wireless customer base totaled more than 10 million as of
September 1999. International proportionate subscribers comprise nearly
25% of Bell Atlantic's global wireless customer base.