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Wireless powerhouse plans public offering
Posted: 05-Apr-2000 [Source: CNet]

[Verizon Wireless, created by Bell Atlantic, GTE, and Vodafone plans an IPO this year according to this report.]

By John Borland -- The company even put a public face on its new brand name, unveiling a marketing campaign, logo and a series of nationwide pricing plans.

The decision moves the new venture down the same publicly traded path sought by AT&T's wireless division, and which Sprint's PCS division has followed so successfully.

"We expect the IPO to roll out this year," said new Verizon Wireless chief executive Denny Strigl. The board had made that decision at its most recent meeting, and no more details were yet available, he said.

Verizon is launching as the largest mobile phone company in the U.S. market, with close to 20 million subscribers drawn from its two parent firms. Once Bell Atlantic's merger with GTE closes, that figure will rise to about 23 million, putting it far ahead of today's nationwide leaders AT&T and Sprint PCS.


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