US West, Qwest call it a deal

Article Abstract:

Local phone carrier U S WEST Inc has announced that it will merge with long-distance company Qwest Communications International Inc in a $36.5- billion deal. As part of a three-way deal forged with Global Crossing, Qwest will will call off its effort to acquire Frontier Communications, which had already accepted Global's $1.18-billion offer, while Global will drop its bid for US West in exchange for a smaller breakup fee of $420 million. The merged U S West and Qwest will have market value of $65 billion and combined revenue of $14.6 billion, with around 30 million customers.

---

Qwest goes to $55B mission to expand

Article Abstract:

Long-distance carrier Qwest Communications has announced an unsolicited bid to acquire local carriers U S West Inc and Frontier for $55 billion in cash and stock. Qwest has proposed to pay up to $80 a share in its common stock for US West, and $20 a share in cash and up to $55 a share in stock for Frontier. The company would also assume US West's $10-billion debt and Frontier's $14-billion debt. The merger would create a company with combined sales of $22 billion, cash flow of $8 billion, 31 million customers and 71,000 workers.

Market information - general, Qwest Communications International Inc., Frontier

---

MCI plans to beat $55B bid for AirTouch

Article Abstract:

MCI WorldCom is planning to launch a bid of more than $55 billion for cellular phone company AirTouch Communications Inc of San Francisco, CA. The company's all-stock offer aims to outbid British mobile phone operator Vodafone Ltd's $55-billion cash-and-stock offer for AirTouch. MCI WorldCom's move has created a three-way bidding was for AirTouch because Bell Atlantic is also preparing a $45-billion bid for the wireless phone company.

Cellular Mobile Radio Services, Cellular and Other Wireless Telecommunications, Cellular telephone services, MCI WorldCom, AirTouch Communications Inc., Vodafone Ltd.

Similar abstracts:

• Abstracts: GM thinks globally, workers act locally. GM plans new plants that use fewer workers. GM output near zero as strike continues
• Abstracts: GM may rush plan to trim dealers. Renault plans speedy turnaround map for Nissan. Toyota promises custom order in 5 days
• Abstracts: TransAlta becomes largest power retailer in New Zealand. Merger makes sense to coal rivals
• Abstracts: Baton makes small profit in year of change. Two CHUM executives gross $1.5-million apiece for 1998
• Abstracts: The new curiosity shoppe. May the bourse be with you. Off their marks

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.