Topics Mobile Tech News Thursday, April 25

Headlines

Contact us


Site search:
complete archives list




Site Sponsors:


Don't forget AT&T and Verizon promo codes at Sidepon.com to save money.


Bell Atlantic May Spin Off GTE Assets for US$2.5 Billion
Posted: 05-Jan-2000 [Source: Reuters]

[The second largest local telephone company in the US explores a large scale selloff of Internet assets.]

WASHINGTON -- "Bell Atlantic Corp. (BEL.N) is exploring a massive US$2.5 billion spin-off of Internet assets in an effort to gain Federal Communications Commission approval for its acquisition of GTE Corp., people familiar with the plan said on Tuesday.

"Bell Atlantic, the second largest local telephone company in the US, has so far been unable to gain approval for the deal, originally valued at US$53 billion, in part because GTE (GTE.N) operates a high-capacity Internet backbone that Bell Atlantic is currently prohibited by law from owning.

"In a recent proposal to the FCC obtained by Reuters, Bell Atlantic suggested spinning off a new company that would take possession of GTE's fast-growing Internetworking unit after the merger. The new company would be 90 percent publicly owned, raising about $2.5 billion in a share offering.

"Bell Atlantic would own 10 percent of the Internet spin- off, but would have an option to raise its stake to 80 or 90 percent if it received regulatory permission to own the Internet backbone within five years.

More...

Back to Headlines...

Apple Watch Apple Watch

iPhone 6 and iPhone 6 Plus iPhone 6 and iPhone 6 Plus

Amazon Fire Amazon Fire

Samsung Z - Tizen Samsung Z - Tizen

LG G3 LG G3

HTC One mini 2 HTC One mini 2

OnePlus One OnePlus One

HTC One (M8) HTC One (M8)

Samsung Gear 2 Tizen Watch Samsung Gear 2 Tizen Watch

HP VoiceTab HP VoiceTab

T200 octa-core T200 octa-core

Nokia 2520 Tablet Nokia 2520 Tablet

Samsung Galaxy Round Samsung Galaxy Round

BlackBerry Z30 BlackBerry Z30

iPhone 5S and iPhone 5C iPhone 5S and iPhone 5C

Samsung Galaxy Mega Samsung Galaxy Mega

Sony SmartWatch 2 Sony SmartWatch 2

iOS 7 iOS 7

Jolla Jolla

BlackBerry Z10 BlackBerry Z10

Galaxy S 4 Galaxy S 4

Galaxy Note 8.0 Galaxy Note 8.0

Ubuntu on Tablets Ubuntu on Tablets

LG Optimus G Pro L-04E LG Optimus G Pro L-04E

Firefox OS Firefox OS

Sony Zperia Z Sony Zperia Z



 

Valid HTML 4.1!

RSS © 1999-2019 Traques LLC
All times recorded in UTC
webmaster@MobileTechNews.com