Germans and Italians sign a deal to create a new phone giant

Article Abstract:

Deutsche Telekom AG and Telecom Italia SpA have reached an agreement on an $82 billion merger. The deal would be one of the largest mergers in history. Both Deutsche Telekom and Telecom Italia are former telephone monopolies. The merger would form the second-largest telecommunications firm in the world. The agreement was reached after the government of Germany promised Italy it would not intervene with the new company's operations.

Comment:

Deutsche Telekom AG and Telecom Italia SpA reach agreement on $82 billion merger

Italy, Foreign operations, Germany, Deutsche Telekom AG, Telecom Italia S.p.A.

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BT to buy 40% of Cellnet it doesn't already own

Article Abstract:

British Telecommunications PLC (BT) has reached an agreement to acquire the 40% of Cellnet that it does not already own. BT will acquire the share for 3.15 billion pound sterling (4.7 billion euros). The deal will give BT full control of the second-largest wireless services firm in the UK. Securicor Group PLC is the firm selling the 40% share of Cellnet to BT. The deal is expected to be closed by the fourth-quarter of 1999.

Comment:

BT to acquire 40% of Cellnet that it does not already own

United Kingdom, Asset sales & divestitures, Cellular and Other Wireless Telecommunications, Mobile Radio Services, Wireless communications services, British Telecommunications PLC, Cellnet

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