America Online gets phone discounts from Sprint in exchange for stock warrant
Article Abstract:
Information service provider American Online Inc signs a contract with Sprint Corp. America Online will get substantial telecommunications discounts, while Sprint will receive a warrant to purchase 450,000 of newly issued American Online shares for $31.25 apiece any time over the next three years. America Online's stock rose 75 cents to $25 on Apr 16, 1993. Lower telecommunications charges will enable America Online to lower its prices, thus boosting market share. American Online also elects Pres Steve Case as CEO, replacing James Kimsey, who will continue as chairman, and reports a profit of $1.09 million, or 16 cents per share, for 3rd qtr FY 1993, ending Mar 31, up from a profit of $918,000 in 3rd qtr FY 1992. In a separate development, Microsoft Corp co-founder Paul Allen briefly stirs rumors about taking-over American Online by buying 52,500 shares of the company's stock for $29 apiece on Apr 23.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
U.K. sets discount for public in sale of Telecom shares
Article Abstract:
The UK Treasury announces plans to offer British Telecommunications PLC stocks in an effort to lure more public participation in the commercial stock market. The Treasury, which currently owns 48 percent of British Telecommunications, is offering special discounts on the stock. Specially designated share shops are established where customers can purchase stocks at the reduced prices. Stocks are being offered for large institutions in a separate offering. The special stock shops are offering other special discounts for customers purchasing the British Telecommunications stocks. The November 1991 stock offering is expected to raise 8.47 billion pounds sterling.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
User Contributions:
Comment about this article or add new information about this topic:
Britain reveals plans to sell more BT shares
Article Abstract:
The British government announces plans to sell part or all of its 21.8 percent share in British Telecommunications PLC, worth 5.35 pounds sterling, or $8.4 billion. Financial analysts expect strong demand for the shares, expected to be sold in the spring or fall of 1993. More government sales of state telephone stocks are expected as European nations move to embrace privatization. Greece, Germany, Denmark, Hungary and the Netherlands have all announced privatization plans. Money raised from the sale will help ease the UK government's budget deficit. The government has raised a total of 9.4 billion pounds sterling in BT offerings in 1984 and 1991.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: California is seen giving phone firms profit incentive to control basic rates. Bell Atlantic finds privacy-law abuses in probe of unit; Bell of Pennsylvania workers gave out phone records improperly, parent says
- Abstracts: MCI and Sprint unveil deep discounts, new services in fresh fight with AT&T
- Abstracts: The economic consequences of accounting for stock splits and large stock dividends. A rejoinder to 'Measuring Production Efficiency in a Not-for-Profit Setting: An Extension.' (response to article by Yaw M. Mensah and Shu-Hsing Li in this issue, p. 66)
- Abstracts: Old computers get a new lease at charities and former east bloc. Computer use by illiterates grows at work
- Abstracts: Big local phone companies' earnings for 3rd quarter expected to be higher. BellSouth reports earnings fell 23% in fourth quarter