British concern still seeks a partnership with MCI

Article Abstract:

British Telecommunications (BT) CEO Sir Peter Bonfield said the company planned to play an influential role in the three-way merger talks involving MCI Communications. BT's $19 billion bid for MCI has been upstaged recently by Worldcom's $30 billion stock offer and GTE's $28 billion all-cash bid. Bonfield said the two new rivals would have to honor BT's legal and contractual claims as a 20% shareholder in MCI. BT also owns 75% of global networking services company Concert, a joint venture with MCI. Bonfield hinted strongly that BT wants to retain at least partial ownership of MCI, while announcing plans to retain Concert. This strategy reflects the views of most analysts, who add that either Worldcom or GTE would acquire a majority stake in MCI. Financial terms of an agreement with MCI would entitle BT to $450 million if their merger is not completed.

Telecommunications, Mergers, acquisitions and divestments, Company acquisition/merger, British Telecommunications PLC, MCI Communications Corp., MCIC, Company executive, Computer executives

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AT&T chief seeks to calm rank and file, via video

Article Abstract:

AT&T Chmn Robert E. Allen uses a videoconference to try to calm employee fears about job losses. AT&T plans to split into a telecommunications service company, a computer company and an equipment manufacturing company. The announcement of the breakup was accompanied by news that jobs would be lost. To start with, 8,500 jobs will be cut from the computer company , with more to follow. Allen's conference makes it clear that more of the company's 300,000 employees will lose their jobs but leaves the details sketchy. Allen says AT&T will try to make information about the cuts known by Jan 1996. Allen denies predictions that 20,000 positions will be eliminated. Allen's teleconference used ordinary telephone lines and satellite video equipment to reach 160 sites in the US and 2,600 sites worldwide.

Wired Telecommunications Carriers, Telephone Communications, Human resource management, T, Telephone services, Company restructuring/company reorganization, Reorganization and restructuring, Company personnel management, American Telephone and Telegraph Co., Allen, Robert E., Company Operations

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