AUSTRALIA: GRANADA MEDIA MAY BID FOR OPTUS

Article Abstract:

Granada Media is a possible buyer of a stake in Cable & Wireless Optus' broadband network in Australia. Optus, is owned 52.5% by C&W, and is looking for equity partners to provide funds and content for its high-speed network, which covers 2mn Australian households and is valued at A$ 3bn. Optus is rumoured to have 50% of broadband network up for sale. Granada is likely to bid for the stake in Optus broadband with Seven Network, Australia's free-to-air television network, in which it has a 10% stake. The two firms would provide content to the network, which would be upgraded at a cost of A$ 1bn to allow the offering of interactive services, such as pay-per-view television.

Australia, Brief Article, Granada Media PLC, Cable and Wireless Optus Ltd.

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Investors cool on Olivetti's daring bid to take over Telecom Italia

Article Abstract:

Shareholders in former Italian state telecommunications operator Telecom Italia have not reacted very warmly to a 36 billion pounds sterling hostile takeover bid from Olivetti. They have expressed reservations about the structure of the bid, and also concerned about the fact that Telecom Italia is much larger than Olivetti. However, the Italian government, which still holds a golden share in Telecom Italia, seems to be sympathetic towards Olivetti, indicating that it does not wish a foreign concern to make a takeover bid.

Comment:

Has made a hostile takeover bid for telecommunications operator Telecom Italia

Italy, Management, Planning, Telecom Italia S.p.A., Olivetti Telecomunicazioni S.p.A.

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BT seems to have go away with it, but only just

Article Abstract:

The US Federal Communications Commission took a very long time to give its approval to the purchase of MCI by British Telecommunications (BT). This has proved a very positive factor for BT, as during the intervening period it emerged that MCI has difficulties in both its core long distance business and its efforts to enter local telecommunications markets. If these facts had not emerged before the deal went ahead, BT would have paid between 3 billion pounds sterling and 4 billion pounds sterling too much for MCI.

Column, British Telecommunications PLC, MCI Communications Corp., MCIC

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