GTE WILL NOT PARTICIPATE IN CENTEL AUCTION
GTE WILL NOT PARTICIPATE IN CENTEL AUCTION STAMFORD, Conn., March 5 /PRNewswire/ -- GTE (NYSE: GTE) Chairman
and Chief Executive Officer James L. "Rocky" Johnson today said that GTE would not participate in the Centel Corp. (NYSE: CNT) auction process. GTE has been mentioned in several news stories as a potential acquirer of Centel.
In ruling out a bid for Centel, the GTE chairman said: "Centel is an excellent company with strong management at the helm, but we do not believe this is an economic opportunity for GTE at this time. GTE's current priorities are the continued integration and consolidation of its core telecommunications businesses. However, we will continue to review other opportunities for profitable growth as they occur," Johnson stated. -0- 3/5/92 /CONTACT: Tony Hamilton, 203-965-2853, or after 6 p.m., 203-327-2162; Harvey Greisman, 203-965-2903, or after 6 p.m., 203-226-7661; Julia Spicer, 202-463-5206, all of GTE/ (GTE CNT) CO: GTE Corp.; Centel Corp. ST: Connecticut, Illinois IN: TLS SU: SM -- NY016 -- 5312 03/05/92 09:25 EST
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|Date:||Mar 5, 1992|
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