Olivetti to consider bid for Telecom Italia

Article Abstract:

Olivetti S.p.A. is considering highly leveraged $60 billion hostile takeover of Telecom Italia, the former state-owned phone company. The deal may be contingent on Mannesmann buying Olivetti stakes in Infostrada and Omnitel-Pronto Italia S.p.A. for $10 billion. Mannesman has already paid Olivetti $375 million for a 12.4 stake in Oliman N.V. Olivetti CEO Roberto Colaninno has obtained investment bank backing for another part of price; the balance may come from Olivetti selling off parts of Telecom Italia after a deal is struck. The Italian government has a 3.4 percent stake in Telecom Italia; its approval would probably give credibility to any takeover effort.

Italy, Radiotelephone communications, Cellular and Other Wireless Telecommunications, Mobile Radio Services, Cellular telephone services industry, Cellular telephone services, Wireless communications services, Telecom Italia S.p.A., Telecommunications Industry, Olivetti Telecomunicazioni S.p.A.

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Frontier still weighing bid from Qwest

Article Abstract:

The Frontier Corporation is still deciding on Qwest Communications International's unsolicited offer to buy them out. However, Frontier is still in the process of negotiating with Global Crossing Ltd. who agreed to acquire them back in March. In the mean time Frontier's stock price has fallen due to lowered long-distance telephone rates.

United States, COMMUNICATION, Communications, Broadcasting and Telecommunications, Long Distance Telephone Svc, Long distance telephone services, U S WEST Inc., Qwest Communications International Inc., QWST, FRO, Frontier Corp.

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