Share this story
Close X
Switch to Desktop Site

News In Brief

A new published report, the second in less than a week, suggested that Germany's Deutsche Telekom AG is "poised" for a megamerger. Citing internal company sources, the magazine Focus Money said Deutsche Telekom was close to completing a contract for the takeover of British communications giant Cable & Wireless. The latter is valued at $48.5 billion. Earlier, Deutsche Telekom was reported interested in acquiring Sprint Corp. if Sprint's takeover by WorldCom falls through. A spokes-man refused to comment on the new report except to call it "speculation."

A gap in what was to be the world's third-largest banking merger will be filled by Toyo Trust, the company announced. The Tokyo-based institution said it will join Sanwa Bank and Tokai Bank in a holding company with $778 billion in assets. The latter two said last month they would proceed with merger plans even though a third partner, Asahi Bank, decided to pull out and continue independent operations.

About these ads

(c) Copyright 2000. The Christian Science Publishing Society

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.