AT&T Inc.'s planned acquisition of BellSouth Corp. could be great for consumers, but the news isn't so great for telecom equipment vendors, already suffering from declining profits. "In our view, carrier consolidation is a net negative for equipment vendors," stated a recent report by...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. CarriersStandard & Poor’s Ratings Services assigned an A rating to Verizon Communications Inc.’s $4 billion aggregate offering of four series of notes. "Our ratings on...
BASKING RIDGE, N.J.-Verizon Communications Inc.'s new enterprise unit, Verizon Business, unveiled an integrated wireline/wireless offering that include wireless broadband access from its Verizon Wireless subsidiary. This is the first product announcement for Verizon Business. Most of MCI Inc.'s former assets were rolled into Verizon's...
NEW YORK-Verizon Communications Inc. said it has completed all the state, federal and international approvals needed to close on its acquisition of MCI. The company recently received its final necessary approval from the Washington Utilities and Transportation Commission. Verizon expects the MCI deal to...
NEW YORK-Verizon Communications Inc. said it has completed all the state, federal and international approvals needed to close on its acquisition of MCI. The company recently received its final necessary approval from the Washington Utilities and Transportation Commission. Verizon expects the MCI deal to...
BOSTON-Capital expenditures are on track for double-digit growth in 2005 in North America, according to a third-quarter analysis from research firm Ovum-RHK. Mobile revenues clocked in at $ 30 billion, up 15 percent year-over-year; Mobile capex added up to $ 4.8 billion, up 10 percent; Wireline...
What constitutes a wireless carrier?Years ago, I used to have an annual fight with an MCI spokesman because RCR Wireless News listed MCI as the nation's largest reseller in our Top 20 lists. Who wouldn't want to be No. 1, you ask? MCI did...
WASHINGTON-The Department of Justice approved Verizon Communications Inc.'s plans to acquire MCI Inc. and SBC Communications Inc.'s plans to buy AT&T Inc.The Federal Communications Commission was scheduled to vote late Friday on the Verizon-MCI deal, while the Commission's review of the SBC-AT&T deal is...
WASHINGTON-Thursday was merger approval day at the Department of Justice, as Verizon Communications Inc. received the OK to proceed with its plans to acquire MCI Inc. and SBC Communications Inc. received the nod to move forward with its plans to buy AT&T Inc.The Federal...
MobiTVAndy Missan has joined MobiTV as vice president and general counsel. Missan will oversee legal affairs and general corporate matters at the company. Missan brings more than 17 years of legal experience to MobiTV, most recently as vice president, general counsel and corporate secretary...
CLINTON, Miss.-SkyTel, a unit of MCI Inc., launched a vehicle-tracking device targeted at parents of teenage drivers.The SkyTel SkyGuard device, which is about the size of a bar of soap and connects to the car's power source, uses wireless and global positioning system technologies...
PITTSBURGH-Marconi Corp. plc appointed Joseph Ferrara chief executive officer of its North American division, succeeding Geoffrey Doy, who will remain chairman of the division.Ferrara will oversee the company's Pittsburgh-based Data Networks group, as well as its Dallas-based Wireless group. He also will join the...
WASHINGTON-While government approval of the proposed $35 billion Sprint Corp.-Nextel Communications Inc. deal and other pending telecom mega-mergers do not appear in doubt, there is a lively debate going on about the adequacy of long-standing antitrust law in the face of consolidation, convergence, innovation...
WASHINGTON-The Justice Department said antitrust czar Hewitt Pate will resign next month, creating a vacancy amid a pending $35 billion merger between Sprint Corp. and Nextel Communications Inc. and other large telecom deals. "It has been a great honor to serve under President Bush...
To the Editor: Suggestion on the engineering shortage: Kill all the parents of potential engineering students so we won't discuss the outsourcing of our jobs. You really can't motivate a college kid to study engineering if mom/dad get laid off and work themselves down...
WASHINGTON-The Justice Department today said antitrust czar Hewitt Pate will resign next month, creating a vacancy amid a pending $35 billion merger between Sprint Corp. and Nextel Communications Inc. and other large telecom deals."It has been a great honor to serve under President Bush...
Infrastructure giant L.M. Ericsson announced it will put the brakes on its CDMA business, a move that coincides with the shuttering of its CDMA headquarters in San Diego. Ericsson said it will no longer seek out new CDMA deals and instead will focus on...
Less than a month ago, I wrote a column about how the recent lull in wireless activity (mergers, etc.) was just the calm before the storm.Boom! Did you hear the thunder?What a week! Repercussions from wireless carrier consolidation reverberated throughout the industry, affecting wireless...
Following is a list of debt and credit upgrades and downgrades for wireless companies by financial and investment firms this week:Standard & Poor's revised its outlook on Sanmina-SCI Corp. to negative from stable following what S&P called disappointing earnings for the second quarter ended...
Qwest Communications International Inc. raised its bid to acquire MCI Inc. to $9.7 billion, providing both a higher overall bid price as well as a greater percentage of cash. The new offer trumps Qwest's previous $8.9 billion bid and is 30-percent higher than a...
Verizon Communications Inc. said it has agreed to purchase approximately 43.4 million shares of MCI Inc. from MCI's largest single shareholder, Carlos Slim Helu, for $25.72 per share in cash. Industry analysts noted the sale equals a 13.4-percent stake in MCI for $1.1 billion....
MCI Inc.'s board of directors rejected Qwest Communications International Inc.'s latest acquisition proposal in favor of a previous and lower bid from Verizon Communications Inc.MCI's board noted that the Qwest bid, which totaled $8.9 billion in its current form, "is not superior to its...
Qwest's bidding war with Verizon over MCI continues, with MCI agreeing to review a bid from Qwest of almost $9 billion. MCI Inc.'s move comes just days after it agreed to a takeover bid from Verizon Communications Inc. MCI in February agreed to a...
MCI Inc.'s board of directors elected to accept Verizon Communications Inc.'s increased bid for the business, again rejecting Qwest Communications International Inc.'s larger takeover offer. Verizon increased its bid for MCI by almost $1 billion and included a clause in the contract to protect...
