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Bell South Invests in the U.S. Wireless Network
Posted: 05-Dec-1999 [Source: Reuters]

[Bell South invests $187 million "to improve network performance and to lay the foundation for the move to a third-generation wireless and wireless Internet network." ]

ATLANTA (Reuters) -- BellSouth Corp. (BLS.N) said on Friday it will restate financial results for its second and third quarters to include a $187 million second-quarter charge related to an upgrade i n its U.S. wireless network.

The company said it is revising a June 1999 asset swap related to the upgrade. It initially reported the transaction as a ``like-kind exchange,'' but said it plans to revise that based on further analysis of the results.

...

In June 1999, BellSouth signed a deal with Swedish telecommunications firm Ericsson (LMEb.ST) to replace infrastructure equipment in 14 of its wireless markets.

BellSouth said it entered into the agreement to improve network performance and to lay the foundation for the move to a third-generation wireless and wireless Internet network.

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