BellSouth and Telefonica Moviles Close on BellSouth Operations in 3 Latin American Countries
2004年10月15日 - 2:15AM
PRニュース・ワイアー (英語)
BellSouth and Telefonica Moviles Close on BellSouth Operations in 3
Latin American Countries ATLANTA, Oct. 14 /PRNewswire-FirstCall/ --
BellSouth Corporation (NYSE:BLS) and Telefonica Moviles S.A.
(NYSE:TEM), the wireless affiliate of Telefonica, S.A. (NYSE:TEF),
announced today that the two companies have completed the transfer
of BellSouth's ownership interest in three wireless operations in
Latin America: Ecuador, Guatemala and Panama. Telefonica Moviles
has taken control of the operations of these properties, effective
immediately. BellSouth will receive $1.2 billion for its interest
in the three properties and will recognize a gain of approximately
$600 million, or approximately 33 cents per share, in the fourth
quarter of 2004. The two companies announced in March 2004 that
they had reached a definitive agreement for BellSouth to sell its
interests in 10 Latin American operations to Telefonica Moviles.
The agreement provided a purchase price based on total enterprise
value of $5.85 billion. As announced at that time, the transaction
will close in stages with transfer of BellSouth's interest in the
operations in the remaining seven Latin American countries
(Argentina, Chile, Colombia, Nicaragua, Peru, Uruguay and
Venezuela) expected to close by the end of 2004 subject to all
requisite governmental approvals being obtained. About BellSouth
Corporation BellSouth Corporation is a Fortune 100 communications
company headquartered in Atlanta, Georgia and a parent company of
Cingular Wireless, the nation's second largest wireless voice and
data provider. Backed by award winning customer service, BellSouth
offers the most comprehensive and innovative package of voice and
data services available in the market. Through BellSouth
Answers(R), residential and small business customers can bundle
their local and long distance service with dial up and high speed
DSL Internet access, satellite television and Cingular(R) Wireless
service. For businesses, BellSouth provides secure, reliable local
and long distance voice and data networking solutions. BellSouth
also offers online and directory advertising through BellSouth(R)
RealPages.com(R) and The Real Yellow Pages(R). More information
about BellSouth can be found at http://www.bellsouth.com/ . In
addition to historical information, this document may contain
forward- looking statements regarding events and financial trends.
Factors that could affect future results and could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements include: (i) a change in economic
conditions in domestic or international markets where we operate or
have material investments which would affect demand for our
services; (ii) currency devaluations and continued economic
weakness in certain international markets in which we operate or
have material investments; (iii) the intensity of competitive
activity and its resulting impact on pricing strategies and new
product offerings; (iv) higher than anticipated cash requirements
for investments, new business initiatives and acquisitions; (v)
unfavorable regulatory actions and (vi) those factors contained in
the Company's periodic reports filed with the SEC. The forward-
looking information in this document is given as of this date only,
and, BellSouth assumes no duty to update this information.
DATASOURCE: BellSouth Corporation CONTACT: Jeff Battcher of
BellSouth Media Relations, +1-404-249-2793 Web site:
http://www.bellsouth.com/ Company News On-Call:
http://www.prnewswire.com/comp/095650.html
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