Bell Atlantic cash-out plan hits C&W unit

Article Abstract:

Cable & Wireless Communications PLC's (C&W) share value dropped 11% on Aug. 3, 1998, following reports that Bell Atlantic, which is a key investor of UK-based C&W, is readying an exchangeable bond offering worth $3.5 billion that would enable the US telecommunications group to sell its 18.5% interest in C&W. C&W, which is 53% owned by Cable & Wireless PLC, was created in 1997 through the merger of four UK cable operators. Canada-based BCE Inc., which is another huge shareholder of C&W, recently sold its 14.25% interest in C&W.

Comment:

Its share value drops 11% on 8/3/98 following reports that co investor Bell Atlantic is prepared to sell its stake in this co

Cellular and Other Wireless Telecommunications, Mobile Radio Services, Wireless communications services, Cable & Wireless Communications PLC, Article

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ABN Amro's accord in Italy wins revival

Article Abstract:

The Italian regulatory agency known as Consob has found that Banca Popolare di Lodi S.C.A.R.L. acted illegally when it amassed a controlling stake in Banca Atonveneta. The ruling could open the way for the Dutch bank ABN AMRO Holding N.V. to complete its bid to purchase Banca Antonveneta.

Italy, Commercial Banks, Legal issues & crime, Acquisitions & mergers, Government regulation (cont), Government expenditures, Netherlands, Financial management, Government regulation, Legal/Government Regulation, Laws, regulations and rules, Mergers, acquisitions and divestments, Company acquisition/merger, Company investment, Investments, Stockholders, Bank mergers, Economic policy, Italy. National Commission for Companies and the Stock Exchange, ABN, Banca Popolare di Lodi S.C.A.R.L., Banca Antonveneta

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ABN Amro unit, manager fined by U.K. regulators

Article Abstract:

ABN Amro N.V.'s unit in London has been fined 900,000 pounds (1.3 million euros) for attempting to manipulate the prices of four stocks and for not having implemented the proper controls. A senior manager was also fined 70,000 pounds for the same charges.

Public affairs, Ethics, Discipline, Ethical aspects

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