Bell Atlantic and Nynex: a match made in...where?
Article Abstract:
The $25.6 million merger between Bell Atlantic and Nynex was officially approved by the FCC on Aug 14, 1997. The two telecommunications companies will now provide the local phone service for residents between Maine and Virginia. The merger has not been a smooth experience for the two companies. When it became obvious that Bell Atlantic would have a stronger position in the merged company, several top executives at Nynex resigned. Both companies have seen their stocks rise in value as it became apparent that the FCC would approve their merger. Nynex's stock rose $1.0625 a share, to $58 when approval was granted. Bell Atlantic's stock rose $1.25 a share, to $75.9375 a share. Analysts anticipate that internal problems could prevent the company from developing a strategy for outward expansion.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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AT&T is said to break off merger talks with SBC; rising International disputes and regulatory criticism
Article Abstract:
Talks of a merger between SBC Communications and AT&T have come to a halt as a result of disagreements on how the merged company would be run and the large amount of criticism the talks had received from federal regulators. One of the largest problems that the companies could not resolve was AT&T's insistence that SBC open its local phone network to competitors. AT&T believed that presenting SBC's initiatives to the regulators when the companies announced merger plans would help pave the way for approval. SBC has refused to open up its network to other regional Bells and such rivals as Sprint and MCI without the merger receiving federal approval. SBC did not want to risk losing local phone revenue without having access to AT&T's long-distance revenue.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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Comment about this article or add new information about this topic:
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