Business Briefs

Reported by Star-Bulletin staff & wire

Friday, January 15, 1999

Bell Atlantic to bid higher for AirTouch

NEW YORK -- Bell Atlantic Corp., the largest U.S. local phone company, said it aims to top Vodafone Group Plc's $54 billion offer for AirTouch Communications Inc., the world's top wireless firm. James Cullen, president of Bell Atlantic's telecommunications unit, told Bloomberg News that the company plans to "beat Vodafone by $2." Vodafone, Britain's top mobile phone company, reportedly has offered $90 per share for AirTouch. Bell Atlantic had previously bid about $75 per share, or $43 billion, for the San Francisco-based company. takes off on Wall St.

NEW YORK -- Online business news provider Inc. rocketed 470 percent to close at $97.50 today following its initial public offering of $17 per share. The company, formed through a joint venture between CBS Corp. and Data Broadcasting Corp., was the first major IPO of 1999 and had been eagerly awaited by investors. It offered 2.75 million shares at the top of its revised range of $16 to $17 late yesterday.

In other news . . .

WASHINGTON -- Inc., a California-based Internet car-buying service, plans to raise up to $72 million through an initial public stock offering. The company intends to sell 4.5 million shares for up to $16 each, according to its filing with the Securities and Exchange Commission.

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