Argentine phone system sale is snagged

Article Abstract:

Manufacturers Hanover Corp fails to provide $2.2 billion of foreign debt paper needed to finance the Bell Atlantic Corp's purchase of half of Argentina's telephone company. Instead, president Carlos Saul Menem awards the majority share in the new company to a European consortium financed by JP Morgan & Co. The Argentine government, feeling that the Bell companies are the best telephone companies in the world, had worked hard to assure that at least one of two phone companies being created in Argentina would fall under Bell management. President Memem is disappointed, but he has rejected a request from Manufacturers Hanover for more time.

Finance, Investments, Argentina, Bell Atlantic Corp., BEL, Privatization (Business), Consortia, Manufacturers Hanover Corp., MHC, Empresa Nacional de Telecomunicaciones (Argentina), Consortium, Privatization

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BellSouth terminates pact with Lin

Article Abstract:

The BellSouth Corp will terminate its merger agreement with Lin Broadcasting Corp, which might merge instead with McCaw Cellular Communications Inc. Such a merger would bolster McCaw's position as the largest cellular telephone company in the US. Lin, a company valued at $6.8 billion, requested that BellSouth terminate its negotiations with them. Some analysts thought that the carrier would come back with a new offer. In return for ending its offer, BellSouth will receive $66.5 million. In addition, McCaw will contribute $26.5 million to RCC's Inc, of which Bellsouth owns 85 percent. McCaw owns 15 percent of RCC.

Cellular telephones, Wireless telephones, Contracts, BellSouth Corp., BLS, AT&T Wireless Services Inc., Cellular Radio, Mobile Phones, Telecommunications Industry, Acquisition, Merger, LIN Broadcasting Corp., LINB, MCWA

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