Price Communications Corp. announced Feb. 25 its board of directors authorized the repurchase of up to 500,000 shares of the company’s common stock in the open market or in private transactions. Price Communications, headquartered in New York, provides cellular services covering a population of 3.3 million in 16 licensed areas in Alabama, Florida, Georgia and South Carolina.
Comsat Corp. announced it completed the sale of most of the assets of JEFA Wireless Systems to Able Telecom Holding Corp. Terms of the agreement were not disclosed. JEFA, a wholly owned subsidiary of Texas-based Comsat RSI, installs and integrates “intelligent transportation” and wireless communications systems
Telesystem International Wireless Inc. announced it signed a letter of intent to acquire the French specialized mobile radio operations of France Telecom Group for about $13 million. TIW’s French subsidiary, Regiocom, would add approximately 25,000 subscribers with the acquisition of the SMR operations.
GST Telecommunications Inc. said it completed the sale of its interest in NACT Telecommunications Inc. to World Access Inc. GST received about $86.5 million, which includes the monetary value of 1.4 million shares of World Access’ common stock.
USN Communications has added wireless services to its product bundle and the Connecticut service area to its footprint with the acquisition of Connecticut Telephone, the fourth-largest cellular reseller in the country, said USN. The competitive local exchange carrier increased the size of its initial public offering last month to 8 million shares to fund the acquisition, which adds 64,000 cellular and 15,000 paging subscribers to the USN customer base.
