BT to make bid on ATI. If BT cannot own ATI's domestic assets, how could it own OMPT's due to non-compete with AT&T? This is clearly a problem.
British Telecom Seeks U.S. Partner for AirTouch Bid, Paper Says
Bloomberg News
January 9, 1999, 11:51 p.m. PT
London, Jan. 10 (Bloomberg) -- British Telecommunication
Plc, the U.K.'s biggest phone company, is looking for a U.S.
partner to join a 36 billion pound ($59 billion) bid for
AirTouch Communications Inc., the largest U.S. wireless phone
company, the Sunday Times reported, citing an unnamed Wall
Street investment bank. BT is excluded from competing with AT&T
Corp. in its home market because of their joint venture
agreement, and could not join AT&T in a bid for AirTouch as
regulators are unlikely to clear the acquisition. BT may have
approached Bell Atlantic Corp., the largest U.S. local phone
company, and could consider BellSouth Corp., the No. 4 U.S.
local phone company, and Southwestern Bell Telephone Co. as
partners, the newspaper said.
Vodafone Plc, the U.K.'s No.1 mobile phone company, has bid
about $90 a share for AirTouch and Bell Atlantic has bid $43
billion, people familiar with the companies said, while MCI
WorldCom Inc., the No.2 U.S. long-distance phone company, on
Friday decided against making a bid for AirTouch.
(Sunday Times 1/10 www.the-times.co.uk) |
