MCI confirms it will sell Internet business to C&W
Article Abstract:
MCI Communications Corp. confirmed plans to divest its wholesale Internet operation to Cable & Wireless PLC for $625 million in cash, in a move that will hopefully appeal to regulators opposed of its proposed merger with WorldCom Inc. The sale was initiated to remove antitrust concerns raised by regulators when the two companies merge, controlling over half of the Internet backbone traffic. After the sale, MCI will still have its dial-up Internet service, and will also continue to provide intranet, web-hosting and other value-added Internet services.
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MCI confirms plans to divest wholesale Internet operation to Cable & Wireless PLC for $625 mil in cash, US
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Phone companies beckon Mannesmann
Article Abstract:
Mannesmann AG of Germany leads a consortium that is anticipated to allot up to one billion marks ($562 million) in a move to increase its stake in telephone firm Mannesmann Arcor. The Mannesmann consortium has the option to boost its stake in Mannesmann Arcor from 49.8% to 74.9% by the end of 1999. The move by Mannesmann, who also has the option to increase its stakes in Omnitel and Infostrada, both in Italy, marks the company's efforts to become one of the most notable telecommunications firm in the Europe and elsewhere.
Comment:
Leads a consortium that is anticipated to allot up to 1 bil marks ($562 mil) in a move to increase its stake in Mannesmann Arcor
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Telecom Italia's bid for C&W falls apart
Article Abstract:
Telecom Italia SpA is no longer interested in buying UK-based Cable & Wireless PLC after both of their share prices plunged due to uncertainty in the stock market. Sources said the talks may resume if the share prices start to rise. The negotiations between the two sides began in August 1998, when Telecom Italia Chairman Gianmario Rossignolo and Chief Financial Officer Fulvio Conti held a meeting with Cable & Wireless Chief Executive Officer Dick Brown and Lebanese-French financier Samir Traboulsi in Monte Carlo, Monaco.
Comment:
Is no longer interested in buying UK-based Cable & Wireless PLC after both of their share prices plunged
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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