AirTouch and Vodafone File for Regulatory and Tax Approvals.SAN FRANCISCO--(BUSINESS WIRE)--Feb. 8, 1999--AirTouch Communications (NYSE NYSE See: New York Stock Exchange :ATI (ATI Technologies Inc., Markham Ontario, http://ati.amd.com) A leading manufacturer of graphics chips and display adapters. Founded in 1985 by K. Y. Ho, Benny Lau and Lee Lau, ATI chips and boards are widely used by OEMs. ) and Vodafone (NYSE:VOD See video-on-demand. VoD - video on demand ) today announced that in conjunction with their proposed merger, announced on January 15, 1999, the following filings have been made: -0-
-- Pre-merger notification filing under the Hart-Scott-Rodino Act.
Filed February 4.
-- Application for approval of the transfer of control of AirTouch's
licenses with the Federal Communications Commission. Filed
February 3.
-- Request for a private letter ruling from the Internal Revenue
Service (IRS) that the proposed transaction satisfies certain
requirements that are necessary for the merger to be tax free to
AirTouch's common stockholders with respect to their receipt of
Vodafone shares. IRS rulings typically take three to six months
to obtain. Filed February 3.
-0- The companies plan to continue to seek the additional necessary regulatory approvals. Closing is targeted to occur in the second half of 1999. AirTouch Communications is the largest wireless company in the world based on the more than 40 million customers served by its global ventures. AirTouch has more than 17 million customers based on its ownership share in cellular, paging, and personal communications services See PCS. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Belgium, Egypt, Germany, India, Italy, Japan, Poland, Portugal, Romania, South Korea, Spain, and Sweden, as well as the Globalstar satellite system. On January 15, 1999, AirTouch and Vodafone Group Plc announced a definitive agreement to merge. If consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. , the transaction would result in the creation of a global wireless company with more than 27 million customers in 23 countries. The transaction is targeted to close in the second half of 1999. For a fax copy of this or other AirTouch press releases, please call 1-800-344-7531 or visit the AirTouch web site at www.airtouch.com. |
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