Vodafone, Bell Atlantic Launching Wireless Unit

The new joint venture of Bell Atlantic Corp. and Vodafone AirTouch plans to sell wireless phone service at prices below AT&T; Corp.’s lowest single-rate plan, a person familiar with the offer said. The venture, newly named Verizon Wireless, will undercut the $59.99 a month Digital One Rate “Junior” plan AT&T; has sold since November, the person said, without being more specific. Bell Atlantic and its merger partner, GTE Corp., chose the name Verizon, linking “veritas,” Latin for “truth,” and “horizon,” for their new company when the merger is completed, and said the venture with Vodafone would be called Verizon Wireless.. The companies expect the Federal Communications Commission to approve the merger in the second quarter. The venture won FCC approval last week. Verizon Wireless will unveil new products and services and begin using its new name today. Bell Atlantic and AT&T; declined to comment on the report of its pricing plans. On the New York Stock Exchange, New York-based Bell Atlantic rose $1.94 to close at $63.06, Irving, Texas-based GTE rose $2.44 to close at $73.44 and the American depositary receipts of British Vodafone AirTouch slipped 6 cents to close at $55.50.