Printer Friendly

MERRILL LYNCH COMPLETES SALE OF TELEPORT TO COX ENTERPRISES AND TCI

 NEW YORK, Nov. 23 ~PRNewswire~ -- Merrill Lynch & Co., Inc. (NYSE: MER) announced today that it has completed the previously announced sale of all of its remaining interest in Teleport Communications Group, Inc. (Teleport) to Cox Enterprises, Inc. and Tele-Communications, Inc. (TCI).
 In December 1991, Merrill Lynch sold a 12.5 percent interest in Teleport to Cox Enterprises and, in March 1992, announced that Cox had exercised its options to acquire an additional 37.6 percent interest, thereby raising Cox's total ownership interest in Teleport to 50.1 percent. Merrill Lynch announced in February 1992 its agreement to sell 49.9 percent of Teleport to TCI.
 Closings of the sales of the 49.9 percent interest to TCI and the remaining 37.6 percent interest to Cox Enterprises were subject to regulatory approvals, all of which have been received. Merrill Lynch no longer owns any interest in Teleport.
 -0- 11~23~92
 ~CONTACT: William Clark of Merrill Lynch, 212-449-7284; or Robert Atkinson of Teleport, 718-983-2160; or Robert Thomson of TCI, 303-267-5220; or John Dillon of Cox Enterprises, 404-843-5104~
 (MER)


CO: Merrill Lynch & Co., Inc. ST: New York IN: FIN SU: TNM

TS-LR -- NY067 -- 0671 11~23~92 15:17 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 23, 1992
Words:199
Previous Article:GRUMMAN STREAMLINES OPERATING UNITS
Next Article:WERTHEIM SCHRODER RELEASES GROUND-BREAKING NEW RESEARCH REPORT ON U.S. SURGICAL'S PROSPECTS IN BURGEONING LESS-INVASIVE SURGERY MARKET


Related Articles
MERRILL LYNCH AND COX ENTERPRISES CONSUMMATE TELEPORT TRANSACTION
MERRILL LYNCH COMPLETES AGREEMENT FOR DIVESTITURE OF TELEPORT
COX ENTERPRISES TO ACQUIRE MERRILL LYNCH'S REMAINING INTEREST IN TELEPORT COMMUNICATIONS GROUP
FCC APPROVES OWNERSHIP TRANSFER OF TELEPORT COMMUNICATIONS GROUP FROM MERRILL LYNCH TO COX ENTERPRISES AND TELE-COMMUNICATIONS, INC.
State Farm leases 12,000 sf at Teleport II on Staten Island.
FITCH ASSESSES SPRINT, TCI AND COX RATINGS ON PARTNERSHIP NEWS -- FITCH FINANCIAL WIRE --
SENIORS NATIONWIDE ENJOY A DAY OF FREE PHONE AND VIDEO CALLS; TELEPORT COMMUNICATIONS GROUP HOSTS SEVENTH ANNUAL 'HOLIDAY CALLS' PROGRAM
SENIORS NATIONWIDE ENJOY A DAY OF FREE PHONE AND VIDEO CALLS; TELEPORT COMMUNICATIONS GROUP HOSTS SEVENTH ANNUAL 'HOLIDAY CALLS' PROGRAM
SENIORS NATIONWIDE ENJOY A DAY OF FREE PHONE AND VIDEO CALLS; TELEPORT COMMUNICATIONS GROUP HOSTS SEVENTH ANNUAL 'HOLIDAY CALLS' PROGRAM
Tele-Communications, Inc. Files Telephony Group S-3 Registration Statement

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters