INDUSTRY CONSOLIDATION ENDEMIC IN CELLULAR TELEPHONY MARKET

Industry consolidation is endemic in the cellular telephony market, with Price Communications Inc announcing at the end of last week that it would be acquiring Palmer Wireless Inc for $506m and $380m in debt. The news sent shares in other cellular companies – such as Vanguard Cellular Systems Inc, Airtouch Communications Inc and 360 Communications Co – rocketing, as analysts tried to work out who would be next.

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