TELECOMMUNICATIONS
From Times Staff and Wire Reports
Action on Telesis’ Spinoff Plan Delayed: The California Public Utilities Commission postponed consideration of Pacific Telesis’ proposal to split its wireless operations into a separate company. The delay came after negotiations to resolve the central remaining issue--potential compensation to telephone subscribers for funding development of wireless technology--ended without a decision. Telesis said it remains committed to the spinoff. However, the company said a $1.2-billion initial stock offering for the new wireless company will be postponed until the PUC acts on the plan.
