AirTouch profits rise by 54%

AIRTOUCH, the US telecoms company set to be acquired by Vodafone later this year, yesterday reported a 54 per cent rise in net income in 1998 to $608m (pounds 370m), with fourth-quarter profits ahead of expectations at $130m.

AirTouch added 4.3 million subscribers last year, bringing its total to 17.6 million. The AirTouch- Vodafone deal, which is expected to close in the second half of 1999, will create a global wireless company with more than 27 million customers in 23 countries.