AT&T alters a key term in TCI deal; plan to issue new stock now seen as unneeded

Article Abstract:

AT&T changed its plans concerning the acquisition of Tele-Communications Inc. stating they were no longer planning to issue new stock for companies acquired in the cable industry. AT&T has been concerned that investors might not understand how the telecommunication and cable company would work together and had announced their intention to issue shares for different parts of the company. However, after AT&T has announced their bids to acquire several small cable companies, it set off a stock rally for AT&T shares. Since demand for AT&T stock is high, company executives have decided to repurchase their own stock and not issue separate shares.They now believe investors will appreciate AT&T's opportunity to offer consumers services using both cable and telecommunications technology.

United States, Acquisitions & mergers, Company acquisition/merger, Cable television broadcasting industry

---

Cable and Wireless ends venture with Veba

Article Abstract:

The German telecommunications alliance between Cable and Wireless and Veba was broken when Cable and Wireless decided to directed its focus on the telecommunications market in Great Britain and on the continent, rather than on Germany as Veba plans to. Vebacom was formed by the two companies in 1994, and with Cable and Wireless's departure Vebacom will be left with only Veba and RWE in the venture. The two companies are currently seeking a third international partner with similar priorities. Cable and Wireless received $1.3 billion for its share in Vebacom, and Veba plans to retain its 10.4% stake in Cable and Wireless. News reports have suggested Cable and Wireless are interested in joining the Global One venture with Deutsche Telekom, France Telecom and Sprint.

Veba AG, RWE AG, Cable & Wireless PLC

---

Bell Atlantic says approval near for merger with Nynex

Article Abstract:

The Justice Department has informed Bell Atlantic that it will probably not block the company's merger with Nynex. The acting chief of the Justice Department's antitrust division, Joel Klein, has been strongly opposed to the proposed merger. The department has been investigating the merger to determine if it would stifle competition. Klein's acknowledgement that his department does not have sufficient evidence to pursue a legal challenge is the first indication of whether the companies would be sued to stop the merger or the Justice Department would approve the $22 billion deal. The FCC also is required to approve the deal before it can go through, but it is believed once the Justice Department gives its approval, the FCC will follow suit.

Investigations, United States. Department of Justice, Bell Atlantic Corp., BEL, NYNEX Corp., NYN

Similar abstracts:

• Abstracts: AT&T chief halts hiring, shifts budget. Sprint plans to integrate voice, data
• Abstracts: Local operators are standing by; after the Bells and their new rivals have it out, consumers will get an earful
• Abstracts: Loans That Come Full Circle. Leaving no stone unturned. Capital ideas for financing
• Abstracts: Microsoft sets new direction on terminals. Microsoft, Intel propose NetPC to blunt network computer push by Sun, Oracle
• Abstracts: New president of AT&T sees a profit drain. Report of loss sends shares of MCI lower; 17% drop-off raises concerns about merger

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