Sprint cuts costly ties, sells stake in Global One

Article Abstract:

Sprint Corp is selling its interest in Global One to its European partners, France Telecom SA and Deutsche Telekom, for $1.1 billion in cash and the repayment of $276 million in debt. The sale will help clear the way for Sprint's pending takeover by MCI WorldCom. Global One has been plagued by financial problem, technical slip ups and quarreling among its partners. Sprint's agreement to MCI WorldCom's takeover was the final development that undid the Global One venture.

Europe, Foreign operations, Sprint Corp., Deutsche Telekom, France Telecom S.A., Global One

---

Qwest: US West deal's still on

Article Abstract:

Qwest Communications CEO Joseph Nacchio has announced that the firm is proceeding with plans to buy U S West Inc even as it explores a possible merger with Deutsche Telekom. Nacchio noted that the rationale behind its merger with U S West has remained unchanged and named executives for the combined company. However, U S West investors are concerned that he could be seeking a way to back out of the U S West merger and could cite regulatory difficulties as a pretext for doing so.

U S West Inc.

---

WorldCom, Sprint offer asset sale to keep deal

Article Abstract:

Sources familiar with the proposed merger between WorldCom and Sprint have reported that the two companies are offering to sell virtually all of Sprint's network along with its Internet and long-distance businesses. The assets for sale are worth roughly $45 billion. The move is a last-ditch effort by both telecommunications providers to salvage their merger. While it is unclear if anti-trust regulators will accept the arrangement, it is not uncommon for deals encountering regulatory opposition to be saved by such last-minute compromises.

United Telephone Company of Ohio

Similar abstracts:

• Abstracts: Noranda sells 4% stake in gold miner Newmont to U.S. dealer for $246-million. Noranda acquires stake in Rio Algom
• Abstracts: Pizza meets politician in New York half-minute. Taco Bell, Wendy's seek mass appeal. Subway ads sell diet secret
• Abstracts: Wariness squashes pioneering tomato. House to back China trade
• Abstracts: Optics companies cash in on the speed of light. Could Linux outdo Windows? Apple rewards Jobs for firm's success
• Abstracts: Advertising executive relishes role as agent of change. Reality bites into advertising market. Feel-good ads top picks for international awards

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.