Continental reaches pact with ITT on unit's sale
Article Abstract:
Continental AG of Germany is attempting to expand beyond its core business with a deal to pay $1.93 billion to acquire the brake and chassis division of US-based ITT Industries Inc. The approval of the agreement will signal a milestone in Continental's transformation from a tire maker to a firm that supplies technology and full electronics systems to automakers. In the case of ITT Industries, the deal, which requires the approval of US and European antitrust regulators, completes a strategic evaluation of the company's auto-parts operations.
Comment:
Attempts to expand beyond its core buss with deal to pay $1.93 bil to buy brake and chassis division of ITT Industries Inc
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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BSkyB charges result in loss at News Corp
Article Abstract:
News Corp. posted a loss of $10 million (9.5 million euros) for the fiscal fourth-quarter of 1999. The company absorbed major charges from the launch of its BSkyB satellite broadcaster. During the same period in 1998, News Corp. reported $233 million in net income. The company posted a fall of 40% in net income to $678 million. During the same period in 1998, News Corp. posted $1.14 billion.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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