SAN FRANCISCO-AirTouch Communications Inc. restated its 1998 outlook on a pro forma basis to reflect its April 6 acquisition of U S West MediaOne Group’s domestic cellular and personal communications interests. The new outlook has been restated as if the acquisition closed on Jan. 1, 1997.
AirTouch said it expects to add 3 million proportionate global cellular and personal communications services customers in 1998. The company expects its proportionate operating cash flow to grow about 25 percent from 1997 operating cash flow of $2.1 billion. Capital expenditures in 1998 are expected to be about $1.5 billion, a 5-percent increase from 1997.
AirTouch’s earnings per share dilution from the MediaOne transaction is expected to be about 40 cents in 1999 and comparable on a pro rata basis in 1998. AirTouch acquired MediaOne Group’s U.S. cellular property, U S West NewVector Group, and its interest in PCS provider PrimeCo Personal Communications L.P.
The MediaOne Group acquisition, coupled with AirTouch’s recently announced record first-quarter growth, has made it the largest wireless provider in the nation and the world in terms of number of subscribers, said the company, with 9 million subscribers in the United States and 29 million internationally. Today AirTouch has cellular operations in 19 states, including 15 of the top 30 U.S. markets.
