Vodafone closer to AirTouch merger

Vodafone closer to AirTouch merger
Alex Mayhew-Smith Vodafone has moved one step nearer to gaining regulatory approval for its ?38bn merger with AirTouch after having received a positive ruling from the US Internal Revenue Service. The ruling confirms that the deal will meet requirements for a tax-free merger between a US and a foreign firm. The merger is expected to be completed at the end of this summer. In another development, Bell Atlantic moved towards ending its partnership with AirTouch in the US, saying it is to dissolve PrimeCo, a joint wireless communications venture. The venture was set up by the two firms to cover areas in the US which neither firm previously served and has an estimated one million customers. The move could lead to Vodafone having to build its own US wireless network, which is likely to require a large investment.


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