BAM to gain 100 percent of Reading, Pa., market - Bell Atlantic Mobile acquires full ownership of Berks and Reading Area Cellular Enterprises

Mobile Phone News, May 25, 1998

Bell Atlantic Mobile [BEL] (BAM) has acquired the remaining 49 percent of the Berks and Reading (Penn.) Area Cellular Enterprises (BRACE) for $20 million to become the sole owner of the carrier serving the two-county area with a population of 350,000. BAM, which already owned 51 percent of BRACE and has been the operator of the service, purchased 39 percent from BRACE and 10 percent from Virginia Metronet Inc., a wholly owned subsidiary of 360 [degrees] Communications Co.

[XO]. BRACE has been a partnership of Conestoga Enterprises Inc., D&E Communications Inc. and 360. (Nancy Stark, BAM, 908/306-6762.)