Alcatel wins $1.7 billion SBC contract
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SBC Communications taps the French telecom equipment maker to upgrade its network with fiber-optic technology.
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Cingular Wireless, a joint venture between SBC Communications and BellSouth, has completed its previously announced acquisition of AT&amp;T Wireless Services, creating the largest wireless carrier in the US.
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By Sanford Nowlin, San Antonio Express-News  Feb. 22--San Antonio-based AT&T Inc. said Wednesday that it has won a $1  billion global networking contract from General Motors Corp.
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ARMONK, N.Y. -- IBM Corp. said Monday it has won a $1.4 billion outsourcing contract from AstraZeneca PLC, a seven-year deal aimed at helping the British pharmaceutical company manage its internal technology operations.
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Shareholders of Alcatel SA and Lucent Technologies Inc. approved the companies' merger plansÂ Thursday, clearing one of the last hurdles to a mammoth consolidation in the communications equipment business.
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The deal follows Alcatel&#039;s April plan to acquire Lucent  Technologies Inc. to create the world&#039;s top telecoms gear maker  by annual sales, and comes years after Wall Street analysts  have called for mergers in the crowed sector.
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SBC Communications  will offer a high-speed Internet connection for &#36;19.95 per month to new customers who buy a top-line calling plan and sign a one-year contract, the company said on Wednesday.
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Toll Holdings Ltd.'s  Pacific National unit has won a A$1 billion ($780 million), seven-year contract to transport steel for Bluescope Steel Ltd.  and OneSteel Ltd. , sending Toll's shares up 2.5 percent.
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SBC Communications Inc., the No. 2  U.S. telecommunications company, is in talks to acquire AT&T  Corp. for more than $15 billion to bolster its business with  large corporations, sources familiar with the talks said on  Thursday.
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(InfoWorld) - Shareholders of Alcatel SA and Lucent Technologies Inc. approved the companies' merger plansÂ Thursday, clearing one of the last hurdles to a mammoth consolidation in the communications equipment business. The merger scraped by at Lucent's special shareholder meeting Thursday in Wilmington, Delaware. It required 50 percent of the vote and received 51.97 percent, according to spokesman John Skalko. Alcatel, meeting in Paris, required a two-thirds vote of shareholders. All resolutions related to the merger were approved by at least 85 percent of the Alcatel shareholders who voted, said Alcatel spokesman Charlie Guyer. The two networking and telecommunications equipment manufacturers announced their intention to merge in April. The combined entity will have annual revenue of around â¬21 billion (US$25 billion), based on the companies' 2005 financial results. Lucent Chief Executive Officer Patricia Russo will become CEO of the combined company, which is to be called Alcatel Lucent, while Alcatel CEO Serge Tchuruk will become a non-executive chairman. Lucent, based in Murray Hill, New Jersey, is incorporated in Delaware. The merged company will be based in Paris, Alcatel's hometown. Alcatel and Lucent expect that the merged entity will make annual cost savings of about â¬1.4 billion, around half of that from job cuts. They plan to cut 9,000 from their combined payroll of 88,000. The U.S. Federal Trade Commission approved the deal in June, and the European Commission gave its consent in July. The largest remaining obstacle is convincing the Committee on Foreign Investment in the U.S. that the deal presents no threat to national security. To allay such fears, Lucent will set up a separate subsidiary run by U.S. citizens to handle sensitive research and development work for the U.S. government, while in France, Alcatel agreed to sell its satellite business to French aerospace electronics group Thales SA for similar reasons. The proposed deal has run into opposition from some investment companies and shareholders. Lucent announced on Friday it had settled two shareholder lawsuits that could have delayed Thursday's vote. Shares of both companies have fallen from their April levels, though they have made some gains in the past few weeks.
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Vodafone Group Plc  has  won the battle for a controlling stake in India's No.4 mobile  operator Hutchison Essar with a bid that values it at around  $19 billion including debt, a source and India's Essar group  said on Sunday.
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SBC Communications Inc. has agreed to acquire AT&amp;T Corp. in a &#36;16 billion deal that would create the nation's largest communications company, the companies said early Monday.
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SBC Communications Inc. SBC.N, the  second-largest U.S. regional phone company, is in talks to buy  AT&T Corp. T.N for more than $16 billion, The New York Times  reported on Thursday, citing executives close to the  negotiations.
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AT&amp;T Corp., the matriarch of the modern telephone business, is close to being acquired by one of its progeny, SBC Communications Inc. , in a $16 billion deal that would create the nation's largest telecommunications company.
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Alltel Corp. shareholders overwhelmingly approved a $24.7 billion buyout Wednesday that put the wireless company in the hands of two private investor groups.
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Network equipment companies Alcatel SA   and Lucent Technologies Inc.  said on  Thursday they had completed their merger, creating one of the  world's biggest suppliers of network equipment for mobile  phones and high-speed Internet communications.
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The offer values Hutchison Essar, one of Indiaâs fastest-growing telecommunications companies, at about $19 billion.