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Article: AirTouch and U S WEST Media Group Sign Definitive Agreement On Merger of Domestic Wireless Interests
- Article from:
- PR Newswire
- Article date:
- May 16, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DENVER, May 16 /PRNewswire/ -- U S WEST Media Group (NYSE: UMG) and AirTouch Communications (NYSE: ATI) have signed a definitive agreement to merge the domestic cellular business of Media Group and its interest in PrimeCo Personal Communications into AirTouch.
AirTouch and U S WEST announced April 17 that they had signed a letter of intent regarding the merger. The principal terms of the definitive agreement are the same as those in the letter of intent.
The parties value the merger at about $5 billion. The transaction includes the tax-free distribution of AirTouch stock to Media Group shareowners and the assumption by AirTouch of $2.2 billion of ...