DALLAS-Paging Network Inc. announced it has purchased a 25 percent interest in Sociedad de Radiotelefonia Movil S.A., which owns Compania Europea de Radiobusqueda S.A., a Spanish paging company. PageNet said it will provide operational assistance to CERSA.
In addition to PageNet, SRM’s shareholders are Banco Bilbao Vizcaya, Spain’s largest private bank, several Spanish utility companies and Mannesman Eurokom GmbH, a German telecommunications company. PageNet said its agreement includes an option to acquire an additional 26 percent of CERSA if Spanish foreign ownership restrictions were to change.
CERSA, which began operations in 1993, provides local and nationwide paging services and has about 25,000 units in service.
