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Bell Atlantic revamps units, creates new office, but changes may be moot

Article Abstract:

Bell Atlantic Corp has announced a restructuring involving the creation of 6 business units and the appointment of a new chairman, but continues to expect that its $52 bil merger with GTE Corp will be complete by Aug 1999. The restructuring is scheduled to finish by Dec 1998, and gives former Nynex executive Ivan G. Seidenberg the chairmanship when Raymond W. Smith retires. Original Bell Atlantic executives Lawrence T. Babbio and James G. Cullen will share the presidency and former Nynex executive Frederic V. Salerno will be the CFO. Under the merger proposal with GTE, however, Seidenberg will share power with GTE Chaiman Charles R. Lee, and the fate of other executives is not yet clear.

Comment:

Announces restructuring plans despite its ongoing $52 bil merger negotiations with GTE Corp

Author: Mehta, Stephanie N.
Publisher: Dow Jones & Company, Inc.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
Bell Atlantic Corp.

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SBC plans spending on data services to total $600 million for three years

Article Abstract:

SBC Communications Inc. announced that it is planning to spend approximately $600 million up to 2001. The company is also planning to double the number of its sales force in order to meet the demand for data services by customers. SBC executives stated that they are expecting to transfer to a Internet-based data network in the future. This would give the company efficient multiple communications services on the network.

Comment:

Announced that it is planning to spend approximately $600 million up to 2001

Author: Mehta, Stephanie N.
Publisher: Dow Jones & Company, Inc.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
Financial management, AT&T Inc.

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AT&T is holding talks to acquire IBM's Global Network Business

Article Abstract:

AT&T Corp. announced that it is engaged in negotiations for the acquisition of International Business Machines Corp.'s (IBM) Global Network operation. Such a move is an atttempt by AT&T to expand in the data-networking market. The negotiations have been described as being in a preliminary stage. Other parties have expressed interest in purchasing Global Network.

Comment:

AT&T Corp. engaged in talks to acquire International Business Machines Corp.'s (IBM) Global Network operation

Author: Mehta, Stephanie N.
Publisher: Dow Jones & Company, Inc.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
AT&T Corp., International Business Machines Corp.

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Subjects list: United States, Telephone services, Article
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