Subject: [NEXTEL-1] Audiovox Rolls Out PTT

From: Marcelrf <[email-masked]>
Date: Sun, 22 Feb 2004 17:29:44 -0500

Audiovox Rolls Out PTT
Audiovox Could Shed Some Wireless Unit Stake
BY SUSAN RUSH
FEBRUARY 20, 2004

Year-end financials are all but put to bed and it seems several telecom
companies are starting off the new year having been bitten by the
acquisition bug. First Cingular Wireless announced intentions to snap up
AT&T Wireless, Comcast made a play for Disney and now South Korea's
Curitel Communications Inc. is looking for some ownership in Audiovox
Communications Corp.

Audiovox Corp. has signed a non-binding letter of intent to sell a
"controlling interest" in its wireless subsidiary, ACC, to Curitel,
after Curitel submitted a bid.  Since no formal deal has been forged,
Audiovox is tight lipped about how much of a stake could be shed.

Curitel is one of Audiovox Communications' primary suppliers of CDMA
handsets, according to a company spokesman. Equity partner Toshiba,
which owns 25 percent of Audiovox Communications, also supplies CDMA
handsets to the company. Audiovox owns 75 percent of ACC.

To sort out the logistics of the Curitel bid and any others that may
come down the pike, Audiovox has retained the services of Jefferies &
Co. Inc. Although the company is entertaining bids, it said there is no
assurance that a completed deal, with Curitel or anyone else, will come
to fruition.

Last month, ACC entered the push-to-talk fray with the introduction of
two handsets with walkie-talkie features.
As of mid-day Eastern time, Audiovox shares were up 65 cents, or 4.5
percent, trading at $15.25. Over the past 52 weeks, the company's shares
have traded as low as $5.82 and as high as $15.75.

http://www.wirelessweek.com/index.asp?layout=document&doc_id=131268&verticalID=34&vertical=Business+and+Finance&industry=

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