Bell Atlantic-GTE focus: new services
Article Abstract:
Bell Atlantic's $5.3 billion consolidation with GTE is focused on creating new products and services instead of increasing local competition. The merged firm intends to sell new data services while decreasing prices of existing services for the 63 million customers it serves. Bell Atlantic CEO Ivan Seidenberg stated that the strategic objective of the merger is to enhance existing operations and expand into new businesses. Federal Communications Commission Chairman William Kennard implied that the merger between Bell Atlantic and GTE could face firm scrutiny unless it advances the pro-competitive move of the Telecommunications Act.
Comment:
Its $5.3 bil consolidation w/ Bell Atlantic is focused on creating new products & svcs instead of increasing local competition
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
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AOL shares rise on report of AT&T bid
Article Abstract:
AT&T, a long-distance telephone service provider, has made a failed offer to acquire the leading Internet service provider in the US, America Online (AOL). AOL rejected the proposal, which valued the Internet company beyond its $19 billion market capitalization. CEO Steve Case and president Bob Pittman told AOL employees that the company is determined to stay independent as its allows more flexibility in forming alliances and managing the business, and incites passion. AT&T decided to offer to buy AOL, with its 12 million customer accounts, in an attempt to be at the forefront of the Internet industry.
Comment:
Makes failed offer to acquire the leading Internet service provider in the US, America Online
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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