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EXHIBIT 99.1
INVESTOR RELATIONS CONTACT: MEDIA CONTACT:
GINA HAGGERTY JOHN SNYDER Western Wireless
Western Wireless Corporation Snyder Buscher Corporation
Phone 425-586-8671 Phone 206-652-9710
Fax: 206-652-9705
Press Release
WESTERN WIRELESS INTERNATIONAL SELLS INTEREST IN LATVIAN CELLULAR COMPANY
BELLEVUE, WA-OCTOBER 3, 2000 -- Western Wireless International Corporation
("WWI"), a subsidiary of Western Wireless Corporation (Nasdaq:WWCA), today
announced that it has signed an agreement to sell its 22% interest in BaltCom
GSM, a Latvian cellular operator, to Tele2 AB ("Tele2"). According to the
agreement, Tele2 will purchase 100% of the shares of BaltCom GSM. The total
purchase price is approximately $277 million in cash, including the repayment of
approximately $53 million in shareholder loans and bank debt.
BaltCom GSM is the second largest provider of GSM cellular services in Latvia
with approximately 90,000 subscribers. Tele2 is a subsidiary of NetCom AB
(NASDAQ: NECSB), an alternative pan-European telecommunications company offering
fixed and mobile telephony, data network and internet services in 18 countries.
The other current shareholders of BaltCom GSM are Metromedia International
Group, Inc. (AMEX:MMG), the European Bank for Reconstruction and Development,
and local Latvian shareholders.
"We are very pleased by the sale of our minority interest in BaltCom GSM. We
intend to reinvest the proceeds in our GSM business in Ireland as well as other
majority-owned ventures," said Brad Horwitz, president of WWI.
"BaltCom GSM was Western Wireless' first investment outside of the United
States," continued John Stanton, chairman and chief executive officer of Western
Wireless Corporation. "This sale is an important milestone as it demonstrates
the value which we create as the operating partner in our international
ventures."
WWI's cash proceeds from the transaction will be approximately $66 million. WWI
has invested approximately $14 million in BaltCom GSM since it was awarded its
license in 1996. Completion of the transaction is conditioned upon receipt of
approval of the acquisition of BaltCom GSM from the Ministry of Transport of the
Republic of Latvia, which is expected to be received shortly.
Through its operating companies, Western Wireless International Corporation
operates wireless networks in Latvia, Iceland, Croatia, Georgia, Ghana, Cote
d'Ivoire and Haiti, and it has GSM wireless networks under construction in
Ireland and Bolivia. In total, these wireless companies are licensed to provide
service to 65.1 million potential customers. You can learn more about Western
Wireless International Corporation at www.wwirelessintl.com.
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Western Wireless Corporation is a leading provider of rural communications in
the western United States. The company owns and operates wireless cellular phone
systems marketed under the Cellular One(R) national brand name in 19 states west
of the Mississippi River. Through the 2nd quarter of 2000, Western Wireless was
providing service to 930,500 customers. You can learn more about Western
Wireless Corporation at www.wwireless.com.
