Vodafone AirTouch Completes Acquisition of CommNet Cellular

Vodafone AirTouch Plc (San Francisco, CA) has completed its acquisition of CommNet Cellular Inc. through a merger between CommNet and one of Vodafone AirTouch's subsidiaries. CommNet shareholders will receive $32.2077 per share in cash, representing $31.00 per share plus 8% annual interest from the signing of the agreement on July 18, 1999, until Wednesday's closing.

CommNet offers service in Colorado, Montana, North Dakota, South Dakota, Utah, Wyoming, and parts of Idaho, Iowa, and New Mexico. It also owns minority operations in three other states. The purchase fills in gaps in AirTouch's coverage area, which until now have been served through costly roaming agreements.

With the acquisition, Vodafone AirTouch will add 3.6 million proportionate POPs and more than 360,000 proportionate customers to its U.S. wireless base.

Edited by Ellen Jensen