Shrinking an empire to fit

Article Abstract:

under the direction of new chief executive Graham Wallace, Cable and Wireless PLC is reinventing itself, shedding holdings such as Cable and Wireless HKT and Cable and Wireless Communications in order to focus on telecommunications that serve the more profitable business market rather than the consumer market.

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Deutsche Telekom ends bid to get Qwest and U S West

Article Abstract:

German-based telecommunications services company Deutsche Telekom AG has suspended merger talks with Qwest Communications International. Deutsche Telekom has been scared-off by Qwest's plans to buy U S West Inc. Deutsche Telekom has been trying to expand into new markets and will probably now look into a possible acquisition of Global Crossing Ltd.

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Lycos and Spanish phone giant are seen in a $12 billion deal

Article Abstract:

Spain's Telefonica has agreed to acquire Lycos, a U.S. Internet portal. In the acquisition, Lycos would be grouped with Terra Networks, the Internet branch of Telefonica, as well as partnered with Bertelsmann, the German telecommunications conglomerate. This merger is going to link Spain and Europe as a whole to the opportunities in North America.

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