Word: sbc
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...outgoing president John Walters, TIME's Daniel Kadlec says the company's normally patient investors are growing restless. "CEO Bob Allen can't decide whether he's going to retire or stay. He can't decide on a successor. He has big merger plans (with Bell company SBC Communications), which the government won't let him carry out. Now he's coming out and saying, 'The guy I picked isn't smart enough for the job.' There's lots of room for investors to wonder whether this company will get back on track." Some of that wondering showed...
Forget all this stuff about global telephone wars, deregulation and anticompetitiveness. Policy wonks can ponder such issues all they want in view of the possible $50 billion merger of long-distance king AT&T with regional phone operator SBC Communications. Investors need consider only one thing to conclude that the deal is a loser: break-ups almost always are more valuable than megamergers, and AT&T's own history provides a storehouse of evidence. That this deal is even on the drawing board is more confounding than Dennis Rodman...
...acquisition, spinning it off to shareholders as part of another split, this one three ways, last year. So now somebody wants to put Ma Bell back together, replacing fruitful spin-offs with questionable mergers. That is what this deal--twice the size of any previous merger--is all about. SBC is the old Baby Bell Southwestern Bell plus the Baby Bell it recently acquired, Pacific Telesis. If the deal goes through, AT&T will have gathered two erstwhile independent carriers back into its fold. It's a short step from there to continue to buy. Might it be a good...
...merger would be just the latest deal in a telecommunications free-for-all that was triggered by the February deregulation of the U.S. industry. A sequence of megadeals quickly followed, including Bell Atlantic's tying the knot with NYNEX and SBC Communications' purchasing Pacific Telesis...
...deal, which comes just weeks after the $17 billion-merger announcement of Pacific Telesis and SBC Communications (ne Southwestern Bell), confirms that the Baby Bells have hit their Terrible Teens. Now, 12 years after the Federal Government broke up Ma Bell, deregulation and the digital era have transformed the info-delivery business. Cable companies will offer phone service, the Bells will pump Stallone flicks down your phone lines and satellite moguls will do battle from...