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East West Communications Inc

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October 23, 1999 | Bloomberg News
Omnipoint Corp., which sells wireless phone services in the Midwestern and Eastern U.S., agreed to buy East/West Communications Inc. for about $121 million in stock and cash to enter the Los Angeles market. The news sent East/West shares climbing, to close up $11.50 at $24.50 in over-the-counter trading. Omnipoint said it bought about 6% of East/West shares for $3 million and will swap preferred stock equal to 1.77 million Omnipoint shares for the rest.
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BUSINESS
October 23, 1999 | Bloomberg News
Omnipoint Corp., which sells wireless phone services in the Midwestern and Eastern U.S., agreed to buy East/West Communications Inc. for about $121 million in stock and cash to enter the Los Angeles market. The news sent East/West shares climbing, to close up $11.50 at $24.50 in over-the-counter trading. Omnipoint said it bought about 6% of East/West shares for $3 million and will swap preferred stock equal to 1.77 million Omnipoint shares for the rest.
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