SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 1, 1995
SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
Connecticut 1-9157 06-1157778
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
227 Church Street, New Haven, Connecticut 06510
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (203) 771-5200
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On July 1, the registrant announced the completion of the acquisition
of cellular properties that include all of Rhode Island and the New Bedford,
Massachusetts area formerly owned by Bell Atlantic as well as the Pittsfield,
Massachusetts market, 80 percent of which was owned by NYNEX, and the
16.1 percent interest that NYNEX held in a cellular partnership that serves
all of Connecticut and the Springfield, Massachusetts area. The registrant
also reached an agreement with the Richmond Telephone Company to purchase
the remaining 20 percent of the Pittsfield market.
The acquisition adds approximately 2.3 million people - or POPS - to
the registrant's cellular service area for a combined market covering a
population of over 5.5 million POPS, and increases the population of the
territory served by the registrant's cellular business by 70 percent.
The acquisition of the properties for approximately $450 million in cash
was financed with short-term debt which the registrant intends to replace
with medium-term debt.
The news release announcing the completion of the acquisition is filed
as an exhibit hereto and is incorporated herein by reference.
Item 7. Financial Statements, Pro forma Financial
Information and Exhibits.
Ex. 20 News release issued July 1, 1995.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
SOUTHERN NEW ENGLAND
TELECOMMUNICATIONS CORPORATION
Dated: July 5, 1995 By: /s/ Madelyn M. DeMatteo
Madelyn M. DeMatteo
Secretary
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SOUTHERN NEW ENGLAND TELECOMMUNICATIONS CORPORATION
FORM 8-K
EXHIBIT INDEX
Exhibit
Number
20 News release issued July 1, 1995.
SNET NEWS RELEASE
227 Church Street
New Haven, Connecticut 06510
July 1,1995
For further information contact: Bill Seekamp
203-771-2136
SNET EXPANDS WIRELESS BUSINESS BY 70%
SNET (NYSE:SNG) today completed the acquisition of
cellular properties that include all of Rhode Island and the
New Bedford, Massachusetts area formerly owned by Bell
Atlantic as well as the Pittsfield, Massachusetts market 80
percent of which was owned by NYNEX and the 16.1 percent
interest that NYNEX held in a cellular partnership that
serves all of Connecticut and the Springfield, Massachusetts
area. SNET has also reached agreement with the Richmond
Telephone company to purchase the remaining 20 percent of
the Pittsfield market.
The acquisition adds approximately 2.3 million people -
or POPS - to SNET's cellular service area for a combined
market covering a population of over 5.5 million POPS, and
increases the population of the territory served by SNET's
cellular business by 70 percent.
SNET Mobility, is paying approximately $450 million in
cash for the properties which it is financing initially with
short-term debt and which it intends replace with medium-
term debt.
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"We are following through with this very substantial
expansion of our presence in the fastest growing part of the
telecommunications industry," said Daniel J. Miglio, SNET
Chairman and CEO. "These new properties are all within or
adjacent to areas we already serve, strengthening our
position in the strategic New York - Boston corridor.
"We look forward to bringing our high quality wireless
communications service to this expanded marketplace in one
of the most communications-intensive corridors in the
world," Miglio said. "This acquisition improves the
economies of scale in our dramatically growing cellular
business."
SNET will market cellular service in its new Rhode
Island and New Bedford, Massachusetts territories under the
name Cellular One. Cellular One is the nation's most
subscribed to brand of cellular phone service. SNET's
operational headquarters for the Cellular One properties in
Rhode Island and Massachusetts will be located in Warwick,
Rhode island.
SNET's cellular service in the Pittsfield,
Massachusetts area will be marketed under the name SNET
Linx[SM] by SNET Mobility.
SNET Mobility currently serves an area consisting of
over 3.2 million POPS. This area includes the metropolitan
areas of Hartford, Bridgeport, New Haven and New London
Connecticut and Springfield, Massachusetts as well as the
rural service areas of Windham and Litchfield, Connecticut
and Franklin, Massachusetts. In 1994, SNET nearly doubled
the number of cellular mobile customers it serves from
88,000 to 166,000.
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SNET, a Connecticut-based company reaching beyond its
traditional borders, provides local, national and
international calling; mobile communications; and
publishing, information and advertising services. It is
building I-SNET, a statewide information superhighway that
brings to customers a full array of information,
communications and entertainment services.
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