Questions arise on Bell Atlantic's acquisition of GTE

Article Abstract:

Bell Atlantic Corporation will acquire GTE for $52.9 billion. Bell Atlantic's shareholders will own most of the combined carrier, but each company will appoint an equal number of directors. Ivan G. Seidenberg, Bell Atlantic's future chief executive, will wait until 2004 to become chairman of the combined company. GTE shareholders will recieve 1.22 shares of Bell Atlantic stock for each GTE share. The agreement was based on the previous day's closing prices of each companies stock. Bell Atlantic will assume GTE's debt of around $18 billion. The merger appears to be one of equals.

Comment:

Bell Atlantic will acquire GTE

Asset sales & divestitures, Acquisitions & mergers, Bell Atlantic Corp., GTE Corp.

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Europe official cites concern on Worldcom-MCI merger

Article Abstract:

MCI's proposed sale of part of its Internet business, as a precursor to its planned merger with Worldcom Inc., may not be a sufficient enough concession to allay the antitrust concerns of European regulators. The Justice Department and European regulators had voiced the concern that the merged companies would be able to unfairly dominate the Internet. Companies opposed to the merger such as GTE Corp. have been urging Worldcom to sell its Uunet unit, the leading Internet service company.

Comment:

Proposed sale of part of Internet bsns, as precursor to planned merger w/ Worldcom insufficient

European Union, MCI Communications Corp.

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F.C.C. blocks two Bells on long-distance entry

Article Abstract:

Ameritech Corporation and US West Inc.'s attempts to expand into the long-distance market was rejected by the Federal Communications Commission (FCC). The two Baby Bells lost their case as MCI Worldcom Inc. announced that it would merge its local, long-distance, and international networks as part of a plan to reduce business customer rates. The five Bell firms are not permitted to provide long-distance service because of their strong hold on local phone systems.

Comment:

To merge local, long-distance, and international networks as part of a plan to reduce business customer rates

Marketing procedures, Long Distance Telephone Svc, New Products/Services, Legal/Government Regulation, Long distance telephone services, U S WEST Inc., MCI Inc., Ameritech Corporation

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