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BUSINESS
August 28, 2000 | From Bloomberg News
VoiceStream Wireless Corp., a mobile-phone company being bought by Deutsche Telekom, on Sunday agreed to buy Powertel Inc. for nearly $5 billion in stock to form a nationwide U.S. wireless network. VoiceStream will trade 0.65 to 0.75 share of its stock for each share of Powertel, valuing the transaction at $85 a share, or $4.75 billion. It will also assume about $1.25 billion in Powertel debt. Powertel served 727,000 customers at the end of June in states including Georgia, Florida and Alabama.
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BUSINESS
August 21, 2002 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
Spurred by stiff competition and slowing growth, cell phone carriers Cingular Wireless and VoiceStream Wireless are in exploratory merger talks that could spark the beginning of the industry's long-awaited consolidation, sources say. The negotiations, said to be in the early stages, came as Atlanta-based Cingular announced plans Tuesday to lay off 3,000 employees, or about 7.5% of its work force, to cut costs and restructure its sales operations. Cingular, owned by SBC Communications Inc.
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BUSINESS
September 27, 2000
Senate Majority Leader Trent Lott (R-Miss.) urged lawmakers to drop efforts to prevent regulators from considering Deutsche Telekom's bid to buy VoiceStream Wireless Corp. after the German government pledged to eliminate its direct interest, currently 43.2%, in Deutsche Telekom.
BUSINESS
July 11, 2002 | JUBE SHIVER Jr., TIMES STAFF WRITER
In the first sign of consolidation in the once highflying wireless industry, VoiceStream Wireless is in exploratory merger talks with rival AT&T Wireless Services Inc., industry sources said Wednesday. AT&T, the nation's No. 3 carrier, and VoiceStream, which ranks sixth, are discussing a deal valued at $10 billion that would create the nation's second-largest mobile phone company, a source knowledgeable about the talks said.
BUSINESS
May 30, 2000 | Bloomberg News
NTT DoCoMo Inc., Japan's largest mobile-telephone company, is in final talks to buy a 15% to 20% stake in U.S. cellular-phone company VoiceStream Wireless Corp. for as much as $4.68 billion, the Nihon Keizai newspaper reported. The unit of Nippon Telegraph & Telephone Corp. and VoiceStream plan to integrate their services to offer handsets with Internet capabilities to customers in the U.S. and Japan.
BUSINESS
May 9, 2000 | Bloomberg News
Loral Space & Communications Ltd.'s first-quarter loss widened to $123 million, or 49 cents a share, from $38.5 million, or 17 cents, a year ago, on increased start-up costs for the Globalstar Telecommunications Ltd. network. The loss far exceeded forecasts of 36 cents. Revenue rose 4% to $318.1 million. Loral owns a 40% stake in Globalstar, the only satellite-telephone company that hasn't filed for bankruptcy protection or shut down. At Globalstar, losses widened to $91.
CALIFORNIA | LOCAL
June 27, 2000 | BARBARA MURPHY
Xircom Inc. in Thousand Oaks, which makes circuitry to connect laptop computers to networks and cell phones, will buy Omnipoint Technologies Inc. from VoiceStream Wireless Corp. for $52.2 million in stock. Xircom will give the Bellevue, Wash.-based VoiceStream 1.2 million shares in exchange for full ownership of Omnipoint. The purchase price is valued on Xircom's closing price on June 12. The transaction is expected to close by mid-July.
BUSINESS
July 15, 2000 | From Bloomberg News
NTT DoCoMo Inc., the mobile phone unit of Japan's Nippon Telegraph & Telephone Corp., is considering a bid for VoiceStream Wireless Corp. that would top a reported offer from Deutsche Telekom, a person familiar with the situation said. The Japanese company is likely to seek one or more partners, possibly Hong Kong's Hutchison Whampoa Ltd., if it makes an offer for Bellevue, Wash.-based VoiceStream, the source said. VoiceStream officials couldn't be reached for comment.
BUSINESS
April 26, 2001 | JONATHAN COX, BLOOMBERG NEWS
Deutsche Telekom's $34-billion takeover of VoiceStream Wireless Corp. won regulatory approval Wednesday, removing the biggest obstacle to U.S. entry for the telephone company that is partly owned by the German government. The Federal Communications Commission also let Deutsche Telekom buy Powertel Inc., giving it 5.4 million U.S. wireless subscribers and a nationwide network. The agency, rejecting opposition from some U.S.
NEWS
July 25, 2000 | JUBE SHIVER Jr., TIMES STAFF WRITER
A bid by Germany's Deutsche Telekom to buy Bellevue, Wash.-based VoiceStream Wireless Corp. for $46 billion triggered a flurry of calls Monday in Congress to block any foreign government ownership of U.S. telecommunications firms. Because the German government owns 56% of Deutsche Telekom, Europe's biggest phone company, Sen. Ernest F. Hollings (D-S.C.) and Rep. John D. Dingell (D-Mich.) promptly introduced measures to block the deal.
BUSINESS
April 26, 2001 | JONATHAN COX, BLOOMBERG NEWS
Deutsche Telekom's $34-billion takeover of VoiceStream Wireless Corp. won regulatory approval Wednesday, removing the biggest obstacle to U.S. entry for the telephone company that is partly owned by the German government. The Federal Communications Commission also let Deutsche Telekom buy Powertel Inc., giving it 5.4 million U.S. wireless subscribers and a nationwide network. The agency, rejecting opposition from some U.S.
BUSINESS
November 3, 2000 | Elizabeth Douglass
Cingular Wireless, the new company that includes Pacific Bell Wireless, said it will give up-and-coming rival VoiceStream one-third of its mobile phone capacity in California and Nevada in return for additional wireless capacity covering Detroit, St. Louis and the New York City region. The moves will not affect customers of either wireless provider.
BUSINESS
September 27, 2000
Senate Majority Leader Trent Lott (R-Miss.) urged lawmakers to drop efforts to prevent regulators from considering Deutsche Telekom's bid to buy VoiceStream Wireless Corp. after the German government pledged to eliminate its direct interest, currently 43.2%, in Deutsche Telekom.
BUSINESS
August 28, 2000 | From Bloomberg News
VoiceStream Wireless Corp., a mobile-phone company being bought by Deutsche Telekom, on Sunday agreed to buy Powertel Inc. for nearly $5 billion in stock to form a nationwide U.S. wireless network. VoiceStream will trade 0.65 to 0.75 share of its stock for each share of Powertel, valuing the transaction at $85 a share, or $4.75 billion. It will also assume about $1.25 billion in Powertel debt. Powertel served 727,000 customers at the end of June in states including Georgia, Florida and Alabama.
BUSINESS
August 2, 2000 | From Reuters
The European Union on Tuesday launched fresh attacks on a number of U.S. policies and accused the Americans of hypocrisy in their free-trade posture, especially in technology and telecommunications. In its annual "Report on United States Barriers to Trade and Investment," the EU assailed U.S. barriers to everything from foreign satellites to telephone companies and wheat gluten. It also questioned a new export-subsidy program proposed by the Clinton administration.
NEWS
July 25, 2000 | JUBE SHIVER Jr., TIMES STAFF WRITER
A bid by Germany's Deutsche Telekom to buy Bellevue, Wash.-based VoiceStream Wireless Corp. for $46 billion triggered a flurry of calls Monday in Congress to block any foreign government ownership of U.S. telecommunications firms. Because the German government owns 56% of Deutsche Telekom, Europe's biggest phone company, Sen. Ernest F. Hollings (D-S.C.) and Rep. John D. Dingell (D-Mich.) promptly introduced measures to block the deal.
BUSINESS
August 2, 2000 | From Reuters
The European Union on Tuesday launched fresh attacks on a number of U.S. policies and accused the Americans of hypocrisy in their free-trade posture, especially in technology and telecommunications. In its annual "Report on United States Barriers to Trade and Investment," the EU assailed U.S. barriers to everything from foreign satellites to telephone companies and wheat gluten. It also questioned a new export-subsidy program proposed by the Clinton administration.
BUSINESS
August 21, 2002 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
Spurred by stiff competition and slowing growth, cell phone carriers Cingular Wireless and VoiceStream Wireless are in exploratory merger talks that could spark the beginning of the industry's long-awaited consolidation, sources say. The negotiations, said to be in the early stages, came as Atlanta-based Cingular announced plans Tuesday to lay off 3,000 employees, or about 7.5% of its work force, to cut costs and restructure its sales operations. Cingular, owned by SBC Communications Inc.
BUSINESS
July 15, 2000 | From Bloomberg News
NTT DoCoMo Inc., the mobile phone unit of Japan's Nippon Telegraph & Telephone Corp., is considering a bid for VoiceStream Wireless Corp. that would top a reported offer from Deutsche Telekom, a person familiar with the situation said. The Japanese company is likely to seek one or more partners, possibly Hong Kong's Hutchison Whampoa Ltd., if it makes an offer for Bellevue, Wash.-based VoiceStream, the source said. VoiceStream officials couldn't be reached for comment.
BUSINESS
July 12, 2000 | ELIZABETH DOUGLASS, TIMES STAFF WRITER
Shares of VoiceStream Wireless Communications jumped more than 11% Tuesday on reports that Deutsche Telekom of Germany may buy the U.S. wireless firm for more than $30 billion. VoiceStream officials would not comment, but analysts said that the Bellevue, Wash.-based mobile-phone carrier would be an attractive target for Deutsche Telekom because VoiceStream is building a national network with the same technology used in Deutsche Telekom's mobile system in Europe.
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