USCI Subsidiary Ameritel Signs Letter of Intent to Provide Cellular Services to Radio Shack Customers; Initial Phase Covers 270 Stores.NORCROSS, Ga.--(BUSINESS WIRE)--Sept. 19, 1997--USCI Inc. (NASDAQ/NM:USCM USCM United States Conference of Mayors
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USCM United States Campus Ministries ) Friday announced that its wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. Ameritel Communications Inc. has signed a Letter of Intent with Radio Shack, a division of Tandy Corp. (NYSE NYSE
See: New York Stock Exchange :TAN), under the terms of which the parties intend to conclude a contract to provide cellular services to Radio Shack customers in approximately 270 retail locations.
With $3.2 billion in annual sales and more than 6,900 locations nationwide, Radio Shack is America's favorite store for electronic parts and accessories, telecommunications products and services, and repair service for most major brands of consumer electronics.
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USCI United States Computers, Incorporated Inc., through its wholly owned subsidiaries, is a non-facilities-based carrier providing multiple wireless services through mass market distribution channels.
Its subsidiaries provide wireless coverage (airtime) and billing to consumers for pagers, cellular phones, debit phones and personal communications systems (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. ). -0-
NOTE: Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The company disclaims any intent or obligation to update these forward-looking statements.
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