MCI reports rise in profits and plan for a 7% staff cut
Article Abstract:
MCI Communications announces a 21% increase in earnings for the 2nd qtr 1995 and a restructuring that involves laying off 7% of its employees. The MCI Telecommunications Corp subsidiary will now house all telephone-related businesses. MCI believes that isolating the telecommunications services will force Wall Street to recognize their value. MCI continues in its effort to offer nationwide cellular service by acting as a reseller for other companies' air time. Alliances with BellSouth, GTE, McCaw Cellular, Frontier and New Par, the joint venture of Cellular Communications and Airtouch Communications, will allow MCI to focus on marketing and avoid the necessity of buying hardware and bidding for frequency licenses. Along with the territory gained in MCI's previous acquisition of Nationwide Cellular Service, these agreements will allow MCI users access to the country's top 100 markets and three-quarters of the population. As a reseller, MCI increases its profits by as much as 30%.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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Top British wireless carrier joins battle to acquire Airtouch
Article Abstract:
Vodafone Group, Britain's largest wireless communications company, has announced their intentions to open talks with Airtouch Communications management for acquisition of the company. However, Airtouch is currently negotiating with Bell Atlantic Corporation and has already been offered $45 billion in a stock swap for the company. Vodafone's interest in Airtouch could force Bell Atlantic to up their offer, resulting in a bidding war; or as some experts predict, the companies could enter into a three-way negotiation whereby Bell Atlantic could acquire domestic operations and Vodafone European operations. Negotiations are still underway.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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Assessing a big fish in a deepening pond
Article Abstract:
New global excitement over fixed-wireless technology has increased attention on Winstar Communications and it's stock gain of 38.8% this year. The technology links clients to high-speed telecommunications systems without the bother of fiber optics or T-1 lines. Winstar has posted losses for the past 5 years; much of debt load has been spent building its network. The pros and cons of investing in Winstar, lately at $54 a share, are heightened by the possibility that the company is looking for an acquirer.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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