Japanese phone giant buys a U.S. stake

Article Abstract:

Nippon Telegraph and Telephone (NTT) said it acquired a 12.5% stake of wireless communications company Teligent for $100 million. The deal represents Tokyo-based NTT's first important move into the US telecommunications market. NTT is investing in the possibility that US companies will choose wireless technology over fiber optic cable to serve their integrated voice, data and video communications needs. Teligent, a private company, aims to expand its local services 74 metropolitan markets in 34 states by 2000. Teligent is targeting advanced communications services to small and medium-sized US businesses that operate in buildings without wires. NTT, a leading Japanese research and development laboratory, also will provide technical assistance.

Mobile Radio Services, Wireless communications services, Teligent Inc., Nippon Telephone and Telegraph Corp., Company Acquisition/Merger

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Ameritech to sell half of wireless business to GTE

Article Abstract:

GTE Corp. and Georgetown Partners are buying about half of Ameritech Corp.'s cellular phone business in a $3.3 bil deal. Georgetown Partners, led by black businessman Chester C. Davenport, will put up $60 mil; GTE will raise $2.5 bil. Ameritech itself is being acquired by SBC Communications, and part of winning FCC approval for that deal is the sale of overlapping wireless licenses in the Midwest. The companies also hope the sale to a minority business will add luster, in the FCC's eyes, to the SBC-Ameritech deal. The new GTE-Georgetown venture will be chaired by Mr. Davenport and have an initial equity value of $817.5 mil.

Asset sales & divestitures, Acquisitions & mergers, Investment Offices, Investment Companies, Open-End Investment Funds, Cellular telephone services industry, Cellular technology, GTE Corp., GTE, African American business enterprises, AIT, Ameritech Corp., Georgetown Partners

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Bell Atlantic and Airtouch stocks slip on uncertainty over merger

Article Abstract:

Although the merger between Bell Atlantic Corp. and Airtouch Communications Inc. has been confirmed, skeptical investors who were uncertain about the deal caused both companies stocks to fall. Some analysts believe that the offer Bell Atlantic made was possibly too small which would cause the Airtouch investors to hesitate on the merger, although the price offered was ten percent more than its worth. Another issue is that federal regulators may not approve of the system of accounting to be used in the merger called 'pooling of interest.' The amount of confusion surrounding the deal has cost both companies.

Securities, Bell Atlantic Corp., BEL, Company securities, AirTouch Communications Inc., ATI

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