McCaw Cellular Communications Inc now recognises that it needs partners in order to realise its dream of a seamless coast-to-coast cellular telephone service, and its agreement to pool resources with Pacific Telesis Group Inc in San Francisco, San Jose, Dallas and Kansas City (CI No 1,749), the debt-laden company not only gets 4.4m additional potential subscribers, but also gets $100m in cash; McCaw has the right to buy out the other partners in the joint venture for an estimated $1,000m; if McCaw does not exercise the right, Pacific Telesis has the option to buy out its partners for about $500m.
