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BUSINESS
January 19, 1999 | Reuters
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.
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BUSINESS
December 22, 2000 | From Times Staff and Wire Reports
SBC Communications Inc. paid $6.1 million to the U.S. government for failing to meet regulatory conditions stemming from its $80.6-billion purchase of Ameritech Corp., federal regulators said Thursday. From August to October, the San Antonio-based company missed some performance goals used to monitor its treatment of competitors when leasing lines, switches and other pieces of its network, the Federal Communications Commission said.
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BUSINESS
December 12, 1994 | From Times Staff and Wire Reports
Ameritech Tries to Sell Plan to Justice Department: Attempting to win an endorsement from federal antitrust enforcers, Ameritech Corp. has offered to temporarily scale back its plan to get into the long-distance business, proposing a limited trial in the Chicago area, an executive said.
BUSINESS
October 11, 1999 | (Associated Press)
Deutsche Telekom, seeking a major international partner, is reportedly in talks with Ameritech Corp. and SBC Communications, whose merger has just been cleared by U.S. authorities. German newspaper Welt am Sonntag gave no details on what linkup might be planned. Deutsche Telekom spokesman Ullrich Lissek said: "Right now, everybody is negotiating with everybody. But we don't get involved in speculation."
BUSINESS
December 10, 1998 | Times Wire Services
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.'
BUSINESS
June 9, 1998 | From Bloomberg News
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.
BUSINESS
August 21, 1993 | From Times Staff and Wire Reports
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.
BUSINESS
April 27, 1996 | Times Staff and Wire Reports
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.
BUSINESS
September 29, 1998 | Reuters
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.
BUSINESS
October 7, 1999 | From Times staff and wire reports
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.
BUSINESS
June 30, 1999 | From Times Staff and Wire Reports
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.
BUSINESS
May 7, 1999 | From Bloomberg News
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.
BUSINESS
April 6, 1999 | From Bloomberg News
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.
BUSINESS
April 2, 1999 | Associated Press
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.
BUSINESS
March 25, 1999 | Associated Press
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.
BUSINESS
March 24, 1999 | From Associated Press
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.
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