Centel's Frazee expresses confidence holders cleared acquisition by Sprint

Article Abstract:

Centel Chmn John Frazee is confident that a final tally will show that stockholders voted to accept the company's $3 billion acquisition by Sprint Corp. It appears that Centel management had eked out a narrow victory, despite stout proxy challenges by several big shareholders. Centel has recessed the meeting until Dec 11, 1992, pending a final tally of the vote. The proxy battle is the first to be waged under new Securities and Exchange Commission rules that make it easier for large institutional investors to communicate with each other. The dissident shareholders were angry that Centel, which Frazee had valued at $65 a share, produced a merger agreement for only $31.68 a share, based on Sprint's stock price the day after the pact was announced.

Radiotelephone communications, Holding companies, not elsewhere classified, Telecommunications industry, Sprint Corp., Centel Corp., CNT, Stockholder Accounting

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AT&T may start proxy fight in a week if NCR directors reject bid tomorrow

Article Abstract:

AT&T might start a proxy battle with NCR Corp if the NCR board of directors formally rejects the phone company's takeover bid. NCR's board will meet to decide the matter on Dec 13. 1990. Industry observers believe that AT and T could easily get the 25 percent proxy votes to call a meeting, but it is less clear that AT&T can solicit the 80 percent needed to oust the NCR board. NCR can delay a meeting called by proxy for as long as a month, and AT and T must also overcome a Maryland law that states that an interested holder acquiring 10 percent of a company's shares without board approval cannot merge with that company for five years. NCR is incorporated in Maryland.

Electronic computers, Computer industry, T, NCR Corp., NCR, American Telephone and Telegraph Co., Strategic Planning, Takeovers

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Southwestern Bell, 2 others win right to acquire 51% voting stake in Telmex

Article Abstract:

Southwestern Bell Corp acquires a 51 percent voting stake in Mexican telephone company Telefonos de Mexico for $1.76 billion. Southwestern Bell's partners will be France Telecom Inc and Grupo Carso, which is a mining, manufacturing and tobacco concern in Mexico. The privatization of Telefonos de Mexico represents the largest by a Latin American country; Latin American and European countries experience a wave of privatization as countries look for ways to finance budget deficits. The Mexican government says that it expects to sell off its remaining shares in the company after the completion of the sale.

Mexico, Corporations, SBC, Telefonos de Mexico S.A. de C.V., Privatization (Business), Southwestern Bell Corp., Corporations, Mexican, Privatization

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