Telefonica Moviles Completes Acquisition of Bellsouth's L.A. Networks

Telefonica Moviles completed the acquisition of BellSouth's cellular operators in Colombia, Nicaragua, Peru, Uruguay and Venezuela. These acquisitions mark the conclusion of the second stage of the purchases agreed to by the companies. Together with the acquisition of Bellsouth's cellular operators in Ecuador, Guatemala and Panama on 14 October, Telefonica Moviles has now completed the acquisition of eight of the 10 operators. The company expects to complete the remaining acquisitions (in Argentina and Chile) over the course of 2004http://www.telefonicamoviles.com