Centennial Cellular Corp. Announces New Officer for Puerto Rican Operation.NEPTUNE Neptune, in Roman religion and mythology Neptune, in Roman religion and mythology, god of water. He was presumably an indigenous god of fertility, but in later times he was identified with the Greek Poseidon, god of the sea. , NJ--(BUSINESS WIRE)--Nov. 30, 1999-- (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CYCL) Centennial Cellular Corp. announced today that Richard W. Gasink has joined the Company as senior vice president and chief financial officer of Centennial de Puerto Rico. He previously was associated with Motorola, Inc. for over sixteen years, most recently as senior group controller for the network management group. Mr. Gasink was Motorola's representative on several boards of directors, including telecommunications affiliates in Mexico and the Dominican Republic. He will report to Carlos Bofill, chief executive officer of Centennial de Puerto Rico, and will be based in Puerto Rico. "I am very pleased to have Dick join us at Centennial de Puerto Rico," said Mr. Bofill. "His extensive experience in establishing and growing international communications companies will be very valuable in implementing the Company's rapid expansion plans. With both a personal communications services See PCS. license and a competitive local exchange license in Puerto Rico, Centennial has a strong platform for continued growth in the region." Centennial is one of the largest independent wireless telecommunications service providers in the United States and Puerto Rico with approximately 10.8 million Net Pops. Centennial's domestic Rural Cellular operation has 5.8 million Net Pops and serves over 341,000 customers. Centennial de Puerto Rico, is a fully integrated provider of communications services in Puerto Rico, utilizing a PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. license that covers 3.8 million Pops in Puerto Rico and the U.S. Virgin Islands and a Competitive Local Exchange Carrier ("CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) ") license to operate throughout Puerto Rico. In addition, the Company owns minority shares, representing approximately 1.2 million Net Pops in certain other cellular operations controlled and managed by other cellular operators. Welsh, Carson, Anderson & Stowe (WCAS WCAS Weinberg College of Arts and Sciences WCAS Warfighter Communication Assessment System (US DoD) ) and an affiliate of The Blackstone Group are controlling shareholders of Centennial. WCAS is a private investment firm based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and founded in 1979. WCAS currently manages over $8 billion in private equity capital and focuses primarily on the information services and healthcare industries. The Blackstone Group is a New York based private investment bank whose current corporate investment vehicle, Blackstone Capital Partners III Merchant Banking Fund, LP, has approximately $3.8 billion in committed capital. |
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