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March 12, 1997 | From Associated Press
Japan Telecom Co., a major domestic phone company, plans to acquire International Telecom Japan Inc. in a deal that would create the country's No. 2 telecommunications firm. Japan Telecom vice president Haruo Murakami said today that the companies hope to reach a deal by the end of the month and complete the merger by October. The combined company would have annual revenue of about $3.3 billion, behind only Nippon Telegraph & Telephone Corp., the world's biggest telephone company.
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BUSINESS
March 12, 1997 | From Associated Press
Japan Telecom Co., a major domestic phone company, plans to acquire International Telecom Japan Inc. in a deal that would create the country's No. 2 telecommunications firm. Japan Telecom vice president Haruo Murakami said today that the companies hope to reach a deal by the end of the month and complete the merger by October. The combined company would have annual revenue of about $3.3 billion, behind only Nippon Telegraph & Telephone Corp., the world's biggest telephone company.
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BUSINESS
June 12, 2001 | From Bloomberg News
Sony Corp. raised $83 million through the sale of a tracking stock, which allows investors to buy into the company's Internet unit. Sony, the first Japanese company to sell a tracking stock, priced shares for Sony Communication Network Corp. at $27.34, in the middle of its target range. Sony earlier said in an offer document it aims to sell the shares at $32.31 each.
BUSINESS
March 20, 1999 | From Bloomberg News
AT&T Corp. and British Telecommunications are close to buying a stake in Japan Telecom Co., adding a third partner to their $10-billion alliance and accelerating their entry in the Japanese market, a senior official at the Japanese company said Friday. BT will buy 20% and AT&T will buy 10% of Japan Telecom, the country's fourth-largest phone company, for about $1.3 billion, Nikkei English News reported, without naming sources. A deal could be reached by the end of March, said the official.
BUSINESS
March 1, 2001 | From Bloomberg News
Charter Communications Inc., the cable-television company controlled by billionaire Paul Allen, agreed to buy cable systems from AT&T Corp. in four states for $1.79 billion. The sale, involving 574,000 customers, is the second for New York-based AT&T in two days as the biggest U.S. cable company raises money to reduce debt. Charter will pay AT&T as much as $500 million in stock, cable systems in Florida valued at $249 million and the rest in cash, or about $1.04 billion.
BUSINESS
July 25, 2001 | From Bloomberg News
Nextel Communications Inc., the wireless-telephone company controlled by Craig McCaw, and AT&T Wireless Services Inc., which McCaw sold to AT&T Corp. in 1994, reported second-quarter losses Tuesday as they spent more to draw customers. Analysts said they were pleased with the two companies' performances in the key measures of revenue, cash flow, customer turnover, subscriber growth and cost to acquire each customer.
BUSINESS
May 28, 2001 | From Bloomberg News
Hicks Muse Tate & Furst Inc. and Apax Partners & Co. agreed Sunday to buy British Telecommunications' yellow pages unit for $3 billion as Britain's second-largest phone company tries to lower its debt. The two buyout firms will pay $2.8 billion in cash and close to $200 million in loan notes for Yell Group, British Telecom said. The transaction would be the biggest leveraged buyout of a European company this year and the third-biggest ever, according to the research firm Initiative Europe.
BUSINESS
February 28, 2001 | From Associated Press
Rapidly chiseling away at its mountain of debt, AT&T Corp. has struck two separate deals to sell its 10% stake in Japan Telecom Co. for $1.35 billion and some cable TV systems in four states for about $2.2 billion. The transactions, unveiled Tuesday, will help reduce AT&T's debt to about $42.5 billion, down from a peak of $62 billion in the fall. Credit agencies warned AT&T to reduce its debt load when the company announced plans to split into three independent companies.
BUSINESS
April 28, 1999 | From Bloomberg News
AT&T Corp. said Tuesday that its first-quarter profit rose a better-than-expected 42% as sales climbed at the fastest rate in three years, an early sign of success for Chairman C. Michael Armstrong's push into new markets and businesses. The No. 1 U.S. phone company said profit from operations rose to $1.78 billion, or 67 cents a share, from $1.25 billion, or 46 cents, a year ago. That beat the 63-cent average forecast from analysts surveyed by First Call Corp.
BUSINESS
June 29, 1992 | ELAINE KURTENBACH, ASSOCIATED PRESS
Masashi Kojima looks and sounds like a worried man--and for good reason. He is president of mammoth Nippon Telegraph & Telephone Corp., once the world's most valuable company. At its peak, it was worth $260 billion and its shares sold for an astounding 3.18 million yen apiece, or $25,040. Now the fallen star of the Tokyo Stock Exchange sells for only 609,000 yen a share, or $4,795.
BUSINESS
April 26, 1999 | From Times Wires Services
AT&T Corp. and British Telecommunications agreed Sunday to buy 30% of Japan Telecom Co. for $1.85 billion in cash and other assets, the largest international investment in Japan's phone industry. AT&T, America's biggest long-distance carrier, and BT, Britain's No. 1 phone company, will each acquire a 15% stake in Japan Telecom, the three companies said.
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