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GTE TO MAKE A COMMON STOCK OFFERING

 GTE TO MAKE A COMMON STOCK OFFERING
 STAMFORD, Conn., Sept. 3 /PRNewswire/ -- GTE Corp. (NYSE; GTE) today


announced that it has filed a registration statement with the Securities and Exchange Commission for a common stock offering of 30 million shares through concurrent United States and international offerings.
 The proposed offering amounts to about 3.4 percent of GTE's approximately 895 million shares currently outstanding. The company also has given the underwriters the option to sell an additional three million shares solely to cover over-allotments. The proceeds will be used to pay down short-term debt.
 PaineWebber Incorporated, Goldman Sachs & Co. and Merrill Lynch & Co. will be the managing underwriters for the U.S. offering, and affiliates of those firms and Salomon Brothers International Limited will be the managers for the international offering.
 GTE is the fourth-largest publicly owned telecommunications company in the world. With approximately $20 billion in revenues in 1991, the corporation is the largest U.S.-based local-telephone company and the second-largest cellular-service provider in the United States. GTE also is a leader in government and defense-communications systems and equipment, satellite and air-to-ground telecommunications, directories and telecommunications-based information services and systems.
 -0- 9/3/92
 /CONTACT: Harvey W. Greisman, 203-965-2903, or after 6 p.m., 203-226-7661, or Tony Hamilton, 203-965-2853, or after 6 p.m., 203-327-2162; or in Washington, Julia Spicer, 202-463-5206, or after 6 p.m., 202-797-0715, all of GTE/
 (GTE) CO: GTE Corp. ST: Connecticut IN: TLS SU: OFR


CK -- NY044 -- 7077 09/08/92 14:33 EDT
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Publication:PR Newswire
Date:Sep 8, 1992
Words:251
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