Argentine phone system sale is snagged
Article Abstract:
Manufacturers Hanover Corp fails to provide $2.2 billion of foreign debt paper needed to finance the Bell Atlantic Corp's purchase of half of Argentina's telephone company. Instead, president Carlos Saul Menem awards the majority share in the new company to a European consortium financed by JP Morgan & Co. The Argentine government, feeling that the Bell companies are the best telephone companies in the world, had worked hard to assure that at least one of two phone companies being created in Argentina would fall under Bell management. President Memem is disappointed, but he has rejected a request from Manufacturers Hanover for more time.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1990
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BellSouth terminates pact with Lin
Article Abstract:
The BellSouth Corp will terminate its merger agreement with Lin Broadcasting Corp, which might merge instead with McCaw Cellular Communications Inc. Such a merger would bolster McCaw's position as the largest cellular telephone company in the US. Lin, a company valued at $6.8 billion, requested that BellSouth terminate its negotiations with them. Some analysts thought that the carrier would come back with a new offer. In return for ending its offer, BellSouth will receive $66.5 million. In addition, McCaw will contribute $26.5 million to RCC's Inc, of which Bellsouth owns 85 percent. McCaw owns 15 percent of RCC.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1989
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