News In Brief

A month after its $46 billion purchase of VoiceStream Wireless Corp., Germany's Deutsche Telekom AG announced it would pay $5.89 billion more for West Point, Ga.-based Powertel, another mobile phone service provider. The all-stock deal gives Europe's largest telecommunications company access to Powertel's 720,000 customers and 12 state licenses across the Southeast, where VoiceStream is weak. But both deals will be subject to intensive review as members of Congress worry that the acquisitions could threaten US security and competition, analysts said. Deutsche Telekom is partly owned by the German government.

Applied Micro Circuits Corp. announced plans to buy MMC Networks of Sunnyvale, Calif., for $4.5 billion, making it the second-largest deal in semiconductor history. San Diego-based AMCC, which manufactures circuits for high-speed traffic over fiber optic networks, said the move will broaden its services in the optical-networking market. The largest semiconductor deal came in June when Texas Instruments acquired Burr-Brown Corp. for $7.6 billion.

"About 10,000" gas stations, many of them in the US, are to be bought by investors based in the Persian Gulf, according to a published report. The Middle East Economic Survey said the purchases by the United Arab Emirates Offsets Group would begin in Europe, then spread to the US and Asia as part of a long-term plan to develop an integrated oil and gas presence in overseas markets. The timetable and brands to be targeted were not specified.

(c) Copyright 2000. The Christian Science Publishing Society

You've read  of  free articles. Subscribe to continue.
QR Code to News In Brief
Read this article in
QR Code to Subscription page
Start your subscription today