June 30, 1999 |
SBC Communications Inc. and Ameritech Corp. reached a proposed agreement with Federal Communications Commission staff members on conditions for approval of SBC's $61-billion purchase of Ameritech. The combination of San Antonio-based SBC, which owns Pacific Bell, and Chicago-based Ameritech would create a telecommunications powerhouse with combined revenue of $46 billion and control of local access lines into a third of all U.S. households. SBC, the No. 2 U.S.
April 6, 1999 |
Irving, Texas--GTE Corp., which is being acquired by Bell Atlantic Corp., agreed on Monday to buy about half of Ameritech Corp.'s cellular phone business in the Midwest for $3.27 billion in cash, accelerating a plan to provide wireless services nationwide. Ameritech is selling the properties to eliminate overlap with SBC Communications Inc., clearing the way for antitrust approval of its own pending $79.2-billion sale to SBC. The sale of the businesses in the Chicago and St.
March 24, 1999 |
The Justice Department gave conditional approval Tuesday to SBC Communications Inc.'s planned takeover of Ameritech Corp. in a merger that would create the nation's largest local telephone company. The deal would combine two Baby Bells into a local telephone colossus that would control 57 million phone lines, almost one-third of the nation's phone lines throughout 13 states. The Justice Department approved the merger as long as the companies sell some cellular properties in each of 17 markets.
January 19, 1999 |
Ameritech Corp. is soliciting bids for its Chicago wireless business as a key part of the telecommunication company's planned $80-billion union with SBC Communications Inc., according to sources familiar with the situation. Chicago-based Ameritech has placed a $2.5-billion price tag on the business, which is being offered for sale to privately held financial buyout firms, said the sources, who did not want to be identified.
December 10, 1998 |
SBC Communications Inc. said it expects federal regulators to approve its $78-billion acquisition of Chicago-based Ameritech Corp. by the middle of next year. The Federal Communications Commission is closely examining the proposed purchase because regulators are concerned it won't promote competition in the U.S. local telephone market. Rivals such as AT&T Corp. and consumer groups are pushing the FCC to reject the transaction, as well as Bell Atlantic Corp.'
September 29, 1998 |
The Federal Communications Commission barred regional Bell companies US West Inc. and Ameritech Corp. from marketing long-distance service on behalf of upstart carrier Qwest Communications International Inc., saying the Bells' arrangements to collect fees for referring their local customers to Qwest violate the 1996 Telecommunications Act. Under the act, Baby Bells may not offer long-distance services directly until they open their local networks to competitors.