Sunday, March 05, 2006
AT&T To Buy Bell South, hmmm
This WSJ Article says,
What's that song about the New Boss and the Old Boss? FCC Chair Kevin Martin, in a triumph of re-definition, is already on record as favoring, "strong global carriers that will vigorously compete both internationally and domestically." [link.doc] Clearly SBC-AT&T has shown itself capable of "competing" by this move. After all, isn't a merger the result of successful competition by the victor?
Thanks to Andrew Rasiej for the heads up!
AT&T [that is, SBC -- David I] Nears $65 Billion Deal To Buy BellSouth
By DIONNE SEARCEY, AMY SCHATZ, ALMAR LATOUR and DENNIS BERMAN
March 5, 2006 12:24 a.m.
AT&T Inc. is nearing the acquisition of BellSouth Corp. for roughly $65 billion, people familiar with the situation said Saturday evening. A deal could be announced as early as Monday, these people said.
Final terms of the deal could not be learned Saturday evening, but these people said AT&T Inc. would pay a premium for BellSouth shares of at least 15%, valuing the company at $36 per share at least, up from its trading price Friday of $31.46. That would push the total equity value of the deal to at least $65 billion, plus the assumption of an additional $17 billion of BellSouth debt.
Spokespeople for BellSouth and AT&T declined to comment.
*snip*
What's that song about the New Boss and the Old Boss? FCC Chair Kevin Martin, in a triumph of re-definition, is already on record as favoring, "strong global carriers that will vigorously compete both internationally and domestically." [link.doc] Clearly SBC-AT&T has shown itself capable of "competing" by this move. After all, isn't a merger the result of successful competition by the victor?
Thanks to Andrew Rasiej for the heads up!
Technorati Tags: AT&T, BellSouth, Competition, KevinMartin, SBC
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