News In Brief

Bellevue, Wash.-based VoiceStream Wireless was at the center of reports that it's the target of an impending $35 billion takeover bid by Deutsche Telekom, the German communications giant. Speculation mounted in Frankfurt, where Deutsche Telekom's directors were to meet, that the offer would be extended by early next week, although a spokesman refused to comment. Deutsche Telekom is known to be looking for a major acquisition in the US, and its chief executive has been quoted as saying that no American company would be too expensive. VoiceStream merged with Omnipoint Corp. in February and with Aerial Communications in May. It is licensed to provide digital service in 23 of the US's 25 largest markets.

The announced $1.6 billion purchase of media firm Ziff-Davis was the biggest acquisition yet for Internet company CNET Networks Inc., the Bloomberg agency reported. San Francisco-based CNET, it said, has bought more than 10 companies over the past year and a half in an effort to provide every kind of information about technology. The latest deal will give the combined company access to 23 countries, with 16.6 million online users monthly. Ziff-Davis, based in New York, sold off almost its entire portfolio in 1999 but retained its online unit, ZDNet.

(c) Copyright 2000. The Christian Science Publishing Society

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