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Pacific Telesis' Quigley to Retire

CALIFORNIA / News and Insight on Business in the Golden
State | TELECOMMUNICATIONS | THE STATE

October 24, 1997|Bloomberg News

SBC Communications Inc. said Vice Chairman Philip Quigley will retire at the end of the year, nine months after completing the sale of Pacific Telesis Group to SBC. Quigley, 55, chairman, president and chief executive of San Francisco-based PacTel, negotiated the sale of the Baby Bell local phone company to its sibling SBC for $16.5 billion. The transaction, completed in April, formed the largest U.S. local phone company at the time, although it has since been surpassed by the merger of Bell Atlantic and Nynex. Shares of San Antonio-based SBC fell 81.25 cents to close at $64.50 on the New York Stock Exchange.

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