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August 17, 1997updated 03 Sep 2016 8:11pm


By CBR Staff Writer

After the merger of Bell Atlantic Corp and Nynex Corp which the Federal Communications Commission approved yesterday (CI No 3,226), Ivan Seidenberg, former Nynex chairman, now Bell Atlantic vice chairman, president and chief operating officer, will become chief executive officer in August 1998 when current Bell Atlantic chairman and CEO Raymond Smith retires. The company said it expects to invest $5bn in 1997 to maintain quality and add new capabilities to its US wireless network. It plans to enter new markets such as long distance, data connectivity, internet access and video.

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