Bell Atlantic, GTE dial M for merger

Article Abstract:

Bell Atlantic of Manhattan, NY, will purchase GTE of Stamford, CT, for $53 billion in stocks. The deal, which follows Bell Atlantic's acquisition of Nynex for $25 billion in 1997, is seen as the latest move of Bell to gain access to the Internet. The Internet., which offers a less expensive and better method of transferring information, has been growing ta a 100%-clip annually. Bell Atlantic's purchase, while expanding its reach from the US West Coast with an additional 23 million phone lines, also gains for it GTE's Internet assets.

Comment:

Will purchase GTE of Stamford, CT, for $53 bil in stocks

Asset sales & divestitures, Acquisitions & mergers, Telephone Communications, Telephone services, Bell Atlantic Corp., GTE Corp.

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Lucent backs WinStar's fixed-wireless project

Article Abstract:

Lucent Technologies has agreed to invest $2 billion in capital and equipment in WinStar Communications' fixed-wireless network for businesses in a partnership covering five years. The fixed-wireless systems, unlike the mobile phone business, involves the use of roof top antennas, which are connected to phones and computers for high-speed voice, video and data services. WinStar intends to compete with the regional Bell telephone companies in 50 US cities and plans to offer services in 50 cities in other countries as well.

Comment:

Will receive from Lucent Technologies $2 bil in capital & equipment for its fixed-wireless network over a period of 5 years

Specialized Telecom Services, Receipt of funds, Use of Funds, Internet services, Lucent Technologies Inc., WinStar Communications Inc.

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