October 7, 1999 |
Federal regulators gave final approval Wednesday for SBC Communications Inc.'s $81.1-billion purchase of Ameritech Corp., a deal that would bring together two regional Bell companies to form the nation's largest local phone company. The approval includes an unprecedented set of 30 conditions aimed at promoting local phone competition in the regions served by Ameritech and Pacific Bell parent SBC and encouraging the development of advanced telecommunications services.
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.
May 7, 1999 |
SBC Communications Inc.'s $84.7-billion purchase of Ameritech Corp. would be anti-competitive and should be rejected unless changes are made, Federal Communications Commission staff members said. The agency staff tentatively concluded that the proposed transaction "flunks the public-interest test," Tom Krattenmaker, who is leading the agency's review of the transaction, said at an FCC hearing Thursday. The agency can either block the transaction or impose conditions on it.
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.
April 2, 1999 |
The nation's top telecommunications regulator told SBC Communications Inc. and Ameritech Corp. that he has "serious concerns" about their planned merger and whether it would serve the public interest. Federal Communications Commission Chairman William Kennard, in letters to the companies' chiefs, did not address whether the agency would try to block the proposed $57-billion merger if his concerns are not alleviated.
March 25, 1999 |
Ameritech Corp., the local phone company set to be acquired by SBC Communications Inc., said it will buy a 20% stake in Bell Canada, Canada's leading carrier, for $3.4 billion. The deal with Bell Canada parent BCE Inc. would fill a key gap in the North American operations of SBC and Ameritech while giving them a stake in Canada's recently deregulated phone market. It also follows AT&T Corp.'s purchase of a stake in a rival Canadian phone company.