AT&T, GTE MAY JOIN FORCES.Byline: Seth Schiesel The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times Seeking a partner to invigorate in·vig·or·ate tr.v. in·vig·or·at·ed, in·vig·or·at·ing, in·vig·or·ates To impart vigor, strength, or vitality to; animate: "A few whiffs of the raw, strong scent of phlox invigorated her" its torpid tor·pid adj. 1. Deprived of power of motion or feeling. 2. Lethargic; apathetic. tor·pid  i·ty n. local telephone strategy, the AT&T Corp. is discussing a merger with GTE GTE General Telephone & ElectronicsGTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Corp., executives close to the talks said Tuesday. A deal to merge the two companies could be worth $48 billion or more and would be the largest corporate takeover in American history, dwarfing Worldcom Inc.'s unsolicited $30 billion bid, announced last week, to acquire MCI Communications Corp. AT&T, the nation's largest long-distance telephone carrier, and GTE, one of the biggest local-telephone companies, have been discussing a potential merger intermittently for at least a year, according to analysts and executives familiar with the two companies. But Worldcom's stunning bid for MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. last week increased the pressure on AT&T to find a mate to increase its presence in local markets and on the Internet. A report on the talks Tuesday in USA Today sent shares of GTE up $1.625, to $50.625, while AT&T's shares gained $1.50, closing at $47.4375. ?13- The New York Times |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion