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.'
June 9, 1998 |
Ameritech Corp. cast Goldman, Sachs & Co. in an unusual role, promising the investment bank as much as $10 million to help get regulatory approval for one of the telecommunications industry's biggest acquisitions. Goldman is advising Ameritech on SBC Communications Inc.'s $67.3-billion bid for the Chicago-based regional telephone giant.
August 21, 1993 |
Job Cuts Hit Management Ranks: General Electric Co. and Ameritech Corp. announced the layoff of thousands of management employees in a continuation of America's vast corporate restructuring. GE's aircraft engines unit, headquartered in Cincinnati, said it is cutting 15% of its work force, or 4,000 management jobs. Ameritech, the Baby Bell based in Chicago, said it will let 1,200 to 1,500 managers go by the end of the year.
April 27, 1996 |
IBM Unit Wins Big Ameritech Contract: Ameritech Corp. and the systems integration unit of International Business Machines Corp. entered into a multibillion-dollar, 10-year agreement for information technology services, the companies said. The deal, involving IBM's Integrated Systems Solutions Corp., is one of the largest ever in terms of the amount of mainframe computing capacity involved, the companies said. The exact value of the contract wasn't disclosed.
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.