MCI-Sprint deal changes playing field

Article Abstract:

MCI WorldCom Inc of Clinton, MS, has announced a deal to acquire Sprint Corp for $156 billion in the biggest corporate merger ever. Under the deal, Sprint shareholdes will get $76 worth of MCI WorldCom shares for each share held, while shareholders of Sprint PCS will receive a new WorldCom tracking stock and 0.1547 share of Worldcom's common stock.The deal would result in the world's largest telecom company with combined annual revenue of $50 billion, a stock market value of more than $200 billion and operations in more than 65 countries.

United States, Asset sales & divestitures, Acquisitions & mergers, Telecommunications, Telecommunications industry, Sprint Corp.

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Seagram results tank in second quarter

Article Abstract:

Entertainment and liquor giant Seagram Company Ltd of Montreal, Quebec, has posted a profit of $938 million or $2.65 a share on revenue of $5.6 billion in the 1st half FY99, up from a profit of $161 million on revenue of $5.4 billion in the 1st half FY98. However, cash flow declined by 12% to $342 million during the period. The company registered a loss of $226 million in the 2nd qtr FY98, mainly due to a $405-million restructuring charge it incurred with the integration of PolyGram NV into its music operations.

Canada, Sales, profits & dividends, Liquor, Distilleries, Seagram Company Ltd.

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