TECHNOLOGY & TELECOMMUNICATIONS
From Times Staff and Wire Reports
Pac Tel Boosts Planned Spinoff Offering: Encouraged by investors’ interest in the proposed spinoff of its wireless operations, Pacific Telesis Corp. will offer more shares in the new venture at a potentially higher price. At a maximum value of $1.58 billion, the offering would be the third-largest initial public offering ever. The company, a subsidiary of Pacific Telesis Group, plans to offer 60 million shares at a proposed $21 to $23 each. Previously, the company had said it would offer 50 million shares, capped at $21.
