WorldCom, Sprint deal takes hit

Article Abstract:

The proposed merger between WorldCom and Sprint has run into another obstacle when the EC antitrust chief Mario Monti announced that he intends to oppose the deal. Monti's announcement coincided with reports that that EC and the US Justice Dept would reject the deal within a few days. To appease regulators, WorldCom said it would be willing to sell most of Sprint except its Sprint PCS wireless operation. The EC deadline for a compromise settlement has lapsed while its deadline for a final decision is on July 12, 2000.

Government regulation (cont), European Union, MCI Inc.

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Takeover target throws curveball at Vodafone bid

Article Abstract:

UK-based Vodafone AirTouch's $106 billion hostile takeover offer for German telecommunications firm Mannesmann encountered a last-minute glitch after Goldman Sachs temporarily withdrew as adviser to Vodafone. Mannesmann has accused Goldman of conflict of interest, saying that the Wall Street firm knew confidential information about a number of businesses owned by Mannesmann. The accusation, however, seems unlikely to prevent Vodafone from pursuing its hostile bid.

Asset sales & divestitures, Acquisitions & mergers, Germany, Mannesmann AG

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