U.S. investors are tuning in for Deutsche Telekom sale; Microsoft, others want to be a part of Europe's broadband revolution
Article Abstract:
Deutsche Telekom has put up for bid its German cable network, valued at $10 billion. While DT owns 90% of the infrastructure, its nine regional franchises comprise only 34% of the 17 million subscribers the network serves. DT estimates capital upgrades, to carry data and voice communications, will cost $2.5 billion. Several U.S. bank, computer, telecom, and investment companies are forming alliances to bid on what is seen as a major point of entry into European broadband market. Microsoft Corp. is negotiating with Deutsche Bank. Callahan Associates International LLC, led by former US West executive Richard Callahan, Bank of America, Blackstone Captial Partners and Texas Pacific Group are likely make an offer.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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How Cable & Wireless pulled off an upset in Japanese takeover
Article Abstract:
The takeover of Japan's International Digital Communications Inc. by Britain's Cable & Wireless PLC illustrates how industry in Japan has begun to embrace the Western methods of doing business. The Japanese international phone carrier, IDC, was sought by Japan's Nippon Telegraph & Telephone Corp. and by Cable & Wireless, which held a minority stake in its target. But while NTT believed that a secret bidding process and an implied understanding with IDC's management which went back 13 years would be enough for it to win out, the challenger, Cable & Wireless, made use of all the modern takeover methods to convince IDC that its bid was the better one.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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Mannesmann discusses big cellular deal; purchase of U.K.'s Orange for about $26.6 billion is under consideration
Article Abstract:
Jumping into the telecommunication-merger fray, Mannesmann AG, the third-largest mobile phone company in Britain, is negotiating with Hutchison Whampoa to buy Germany's biggest wireless operator for $26.6 billion. The consolidation would give Mannesmann over 10 million subscribers and also discourage corporate predators, such as Vodafone AirTouch PLC. Spokespeople for both companies have declined to comment on the plan. Mannesmann's startegy is to be the telecommunications ruler of Europe, a deft move from a company that was once exclusively a steel concern.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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