News

AMFM bought by Clear Channel Communications

Premium 01 January 1999

The two largest operators of radio stations in America, Clear Channel Communications and AMFM, are to merge in a deal valued at US$17.4 billion.

Japan's Fair Trade Commission halts incinerator bid-rigging

Premium 01 January 1999

Japan's Fair Trade Commission has ordered five leading incinerator companies to stop their practice of bid-rigging on orders from local governments.

SAB buys Czech Brewer

Premium 01 January 1999

South African Breweries, which controls 98 per cent of the South African Beer market, is to acquire the Czech Republic's largest brewer, Pilsner Urquell, for US$629, creating the world's third largest breweries group.

AT&T and Dobson to buy American Cellular

Premium 01 January 1999

AT&T Wireless has launched a joint venture with US rural telephone company Dobson Communications corporation to buy American Cellular Corporation for US$2.3 billion.

Vodaphone/Bell Atlantic

Premium 01 January 1999

Vodaphone Airtouch is to merge with Bell Atlantic, creating a new company valued at over US$70 billlion.

MCI Worldcom/Sprint

Premium 01 January 1999

MCI WorldCom Inc is to acquire Sprint Corp for US$115 billion in the largest industrial takeover in history.

Airlines in Canada

Premium 01 January 1999

Onex Corporation, the Canadian buy-out company, has withdrawn its C$1.8 billion hostile bid for the country's two national airlines after Canadian courts ruled that its bid for Air Canada was illegal.

DASA/Aérospatiale Matra

Premium 01 January 1999

DaimlerChrysler Aerospace AG and Aérospatiale Matra SA are planning a £6.76 billion merger which would create the world's third-largest aerospace company after Boeing Co and Lockheed Martin of the US.

Austrian bank cartel

Premium 01 January 1999

Eight Austrian banks which collectively account for over half of Austrian deposits and lending have been accused by the European Commission of jointly setting interest rates and commission fees.

Vodaphone/Mannesmann

Premium 01 January 1999

The UK's largest telecommunications operator, Vodaphone AirTouch, has launched a 124-billion-euro hostile bid for German telcoms group Mannesmann.