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Verizon Wireless to Buy Price Communications Wireless

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BEDMINSTER, N.J., Nov. 16 -- Communications provider Verizon Wireless has agreed to purchase all the assets of Price Communications Wireless, including 41 retail stores, a regional call center and network infrastructure, for a total of $2.06 billion. Verizon Wireless will either assume or redeem $550 million of Price Communications Wirless' net debt and pay $1.5 billion in Verizon Wireless stock -- valued at the offering price at Verizon Wireless' upcoming initial public offering. The agreement may be called off by either party if Verizon Communications Wireless' IPO does not...Read full article

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    Published: November 2000
    CommunicationsNews & Features

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