Bell Atlantic, GTE hold merger talks; deal, for up to $55 billion, would create a giant in telecommunications

Article Abstract:

Bell Atlantic and GTE have been discussing a possible telecommunications merger that could be worth between $52.5 billion and $55 billion, according to insiders. The delicate negotiations could yield a company that could dwarf the pending 1998 SBC Communications-Ameritech combination by featuring $53 billion in revenue amd 62 million phone lines. Some of the incomplete terms include a power share between Charles Lee, GTE's chmn and CEO, and Bell Atlantic's CEO Ivan Seidenberg. Lee would serve as the company's first CEO, insiders said, but Seidenberg would move up from pres and eventually become CEO. Financial terms involve a stock swap that probably would place GTE's value slightly below its present stock-market value, which exceeds $56 billion. Bell Atlantic holds a virtual monopoly of the Northeast, including New York, Boston and Washington, D.C. GTE, whose revenue growth is exceeding that of Bell Atlantic, has a presence in other areas, including Texas.

Telecommunications, Management, GTE Corp., GTE, Seidenberg, Ivan, Lee, Charles

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Excel agrees to merge with Teleglobe in accord valued at over $3.5 billion

Article Abstract:

Excel Communications and Teleglobe announced a merger that would create the fourth-largest North American long-distance phone company valued at more than $3.5 billion. Teleglobe, which would keep its name, represents the latest in a wave of telecommunications mergers. Plans call for the new company to combine Teleglobe's network infrastructure with Excel's marketing and retail. The transaction seems to pattern itself after Qwest Communications International's acquisition of LCI International for more than $4 billion as part of its plan to develop a state-of-the-art network. Montreal-based Teleglobe, which ranks among the phone leaders in serving ISPs, currently does business in 18 nations. Excel, which stands fifth among US long-distance phone companies, and Teleglobe would place the same number of directors on the new company's board.

Long Distance Telephone Svc, Telephone communications, exc. radio, Long distance telephone services, Teleglobe Inc., EXCEL Communications Inc., ECI

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Bell Atlantic and NYNEX revive talks on $22 billion-plus merger; accord could come as early as Monday; price remains an issue

Article Abstract:

NYNEX and Bell Atlantic have resumed discussions regarding a potential $22.1 billion merger and price remains the primary point of contention that must be resolved before an agreement can be reached. The merger would be the second largest in US history and should Bell Atlantic acquire NYNEX, the combined telecommunications company would be second in size only to AT&T. The combined corporation would provide service to approximately 36 million customers across the northern Atlantic seaboard, drawing $3 billion in annual income from $27 billion in total annual revenue. If the two sides fail to agree to terms of a merger, each will face the difficulty of entering the other's market to offer services.

Telephone Communications, Telephone services, NYNEX Corp., NYN, Company Acquisition/Merger

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