Alliance talks cool at EDS, British Telecom

Article Abstract:

Both British Telecommunications PLC and General Motors Corp subsidiary Electronic Data Systems Corp (EDS) have stepped away from a proposed pact that would have involved the purchase by BT of nearly $4 billion in EDS' Class E shares. Under the proposed alliance, BT would have purchased from GM as much as one-quarter of all GM Class E shares. At present, the auto maker holds 40 percent of the shares. BT would have used the alliance to push further into the US market, while EDS would have used the arrangement to enter the European and telecommunications markets. This marks the second time that GM and EDS efforts to secure a telecommunications partner for EDS have fallen through. In 1986, talks on a possible investment by AT and T in EDS collapsed.

Motor vehicles and car bodies, Motor vehicle parts and accessories, Data processing and preparation, Computer integrated systems design, Computer services industry, Information technology services industry, Electronic Data Systems Corp., British Telecommunications PLC, Automobile industry, General Motors Corp., Securities, Negotiations, Negotiation

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US Sprint sale gives United Telecom 100%

Article Abstract:

United Telecommunications Inc will buy GTE Corp's 19.9 percent interest in US Sprint Communications Co, which is the nation's third-largest long-distance company. This arrangement closes out a partnership between United Telecom and GTE, which began as a 50/50 joint venture in 1986, when Sprint was begun. United Telecom will pay $530 million to GTE. The agreement will close on Jan 31, 1992 when United Telecom will make a $250 million payment. The balance will be paid on Jul 1, 1992. United's shares closed unchanged on Jan 2, 1991, at $23.75. GTE's stock fell 12.5 cents, closing at $34.50.

Telephone and telegraph apparatus, Telegraph & other communications, Management, Telephone companies, Long distance telephone services, GTE Corp., Sprint Corp., GTE, Long-distance telephone service, UT, Telephone Company, Stock, Acquisition

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