March 13, 1999
AT&T Corp. got clearance from the Justice Department to buy IBM Corp.'s global communications network for $5 billion, with no conditions attached. AT&T says it could receive $2.5 billion in additional revenue in the first full year of operating the network.
June 30, 2004 |
AT&T Corp. will pay $400,000 in fines and issue refunds to as many as 311,000 New Yorkers to settle claims the company billed customers who didn't order service. AT&T was fined for charging a $7.72 monthly long-distance fee to clients who hadn't signed up, state Atty. Gen. Eliot Spitzer said. AT&T spokesman Bob Nersesian called the problem a "billing error" and said the company wasn't switching people without authorization. Shares of AT&T rose 25 cents to $14.67 on the New York Stock Exchange.
April 20, 1999 |
* Infonet Services Corp. agreed to buy the business and assets of a joint venture between AT&T Corp. and Unisource, an alliance of three European phone companies, to expand services to multinational corporations. Financial terms were not disclosed. El Segundo-based Infonet is itself 56% owned by the Unisource partners: Sweden's Telia, Switzerland's Swisscom and the Netherlands' Royal KPN.
December 22, 2006 |
AT&T Inc., the largest U.S. telephone company, must face a lawsuit by former MediaOne Group Inc. executives who say a buyout reduced the value of their stock options, a judge ruled. The executives, including ex-MediaOne Chief Executive Charles Lillis, can go to trial to press claims that they lost millions in the fallout from AT&T Corp.'s 2000 takeover of the cable company, Delaware Chancery Court Judge Stephen Lamb ruled. SBC Communications Inc. acquired AT&T Corp.
December 25, 2003 |
AT&T Corp. said it would freeze salaries for 43,000 nonunion workers until April 2005 as part of its effort to trim its costs. The freeze was announced in an e-mail to employees by AT&T Chairman and Chief Executive Dave Dorman. New York-based AT&T, the nation's largest long-distance carrier, has 64,000 employees.
March 10, 1999 |
AT&T Corp. completed its $55-billion acquisition of cable TV giant Tele-Communications Inc., a deal that creates a one-stop shop for phone service, Internet access and cable television. The long-distance giant also plans to provide local phone service over TCI's cable wires. AT&T plans to pilot telephone service over cable in 10 U.S. cities by year-end.