VoiceStream Wireless Corporation
On May 3, 1999, Western Wireless spun off its VoiceStream Wireless division to Western Wireless shareholders, creating an independent, publicly traded Delaware corporation called VoiceStream Wireless Corporation. Shares of VoiceStream Wireless traded on the NASDAQ under the stock ticker symbol VSTR. The spin off was intended to remove any conglomerate discount, get better value recognition for each of Western Wireless' core analog cellular and digital PCS networks and help each business pursue independent strategies.
In 2000, VoiceStream Wireless acquired two regional carriers. Omnipoint Corporation, a regional network operator in the northeast, was acquired on February 25, 2000 and Aerial Communications, Inc., a regional network operator in the midwest, was acquired on May 4, 2000. The combined company retired the Omnipoint and Aerial brands and completed integrating the three companies by converting to a single customer billing platform, implementing standard business practices and launching the VoiceStream brand and "GET MORE" marketing strategy in all markets.
Read more about this topic: Voice Stream Wireless
Famous quotes containing the word corporation:
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I’ll resort to headlines and force the people into this fight.”
—William Howard Taft (1857–1930)