23rd of November 1999 News
الأخبار كما ظهرت في الصفحة الأولى لصحيفة نيويورك تايمز في ٢٣ نوفمبر ١٩٩٩
News Corp. Weighs Investing in Health Site
Date: 24 November 1999
By Bloomberg News
Bloomberg News
The News Corporation is in talks to invest cash and other assets in the Healtheon/WebMD Corporation for a large minority stake in the Internet health-information company, its chairman and chief executive, Rupert Murdoch, said yesterday. Mr. Murdoch, who did not elaborate on how much the News Corporation would spend, said an investment would include ''some cash and some advertising.'' Last month, the companies said they were in talks about a series of transactions aimed at developing global Internet and branding services.
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EFFICIENT NETWORKS BUYING CABLETRON SUBSIDIARY
Date: 23 November 1999
By Bloomberg News
Bloomberg News
Efficient Networks Inc., which makes modems for high-speed Internet access over phone lines, agreed to buy a complementary equipment business from Cabletron Systems Inc. for $860.6 million in stock. Efficient will pay 13.5 million shares for Cabletron's FlowPoint subsidiary, which makes routers that speed information on computer networks. The agreement makes Cabletron, based in Rochester, N.H., the largest shareholder of Efficient, with a 24 percent stake. Cabletron's shares rose $1 each, to $24. Efficient, based in Dallas, first sold shares to the public on July 15 at $15 each. Yesterday they jumped 23 percent, rising $15.50, to $79.25, in Nasdaq trading.
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TELEMONDE AGREES TO BUY GLOBAL COMMUNICATIONS
Date: 23 November 1999
By Bloomberg News
Bloomberg News
Telemonde Inc., an Internet voice- and data-services provider, agreed yesterday to buy Global Communications Holdings Ltd. of Britain for $160 million in cash, notes and stock to add electronic-commerce services. Global Communications, which is closely held, processes transactions for more than 2,000 online merchants -- or more than half of the existing e-commerce sites in Britain -- through its Netbanx unit. Telemonde will use Global Communications' business to expand its own prepaid calling cards, voice-mail and fax mail services. The acquisition is Telemonde's biggest and is part of the New York-based company's plan to buy companies that run Internet-based businesses in less-developed countries. Global Communications, based in Cambridge, England, operates in 20 countries.
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SWEDISH INTERNET CONSULTANT BUYING AMERICAN RIVAL
Date: 23 November 1999
By Bloomberg News
Bloomberg News
Icon Medialab International, an unprofitable Swedish Internet consulting company, agreed yesterday to buy an American rival, Nicholson NY, for as much as $76 million in stock, part of its plan to seek a listing on the Nasdaq stock market. Icon, based in Stockholm, will pay with 817,500 shares and may issue another 80,000 should Nicholson reach unspecified sales and profitability goals next year. Nicholson, based in New York, is a closely held company with 100 employees. It expects sales this year of $10.5 million.
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COLE TO CLOSE OPTICAL DEPARTMENTS IN WARD STORES
Date: 24 November 1999
By Bloomberg News
Bloomberg News
The Cole National Corporation, a retailer of eyeglasses and lenses, said yesterday that it would close its 150 optical departments in Montgomery Ward stores to focus on businesses like Pearle Vision and Sears Optical stores. Cole said it would take a fourth-quarter pretax charge of $2 million to $2.5 million for the Wards closings. Cole, which had sales of $1.07 billion last year, operates optical departments for big retailers and stores under the Pearle name. The company warned that expenses would rise for initiatives, including franchisee support and advertising for the Pearle chain, before sales improved significantly. It also said fourth-quarter earnings might be hurt by manufacturing and distribution problems for a new system at Pearle stores.
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GOTO.COM, INTERNET SEARCH SERVICE, BUYING CADABRA
Date: 23 November 1999
By Bloomberg News
Bloomberg News
GoTo.com Inc., an Internet search service, said yesterday that it would acquire Cadabra Inc., which provides comparison-shopping services, for $250 million in cash and stock to expand its electronic-commerce offerings. GoTo.com will pay $8 million in cash and $242 million in stock for closely held Cadabra. GoTo.com offers to help guide Internet users to products, prices and other features so it can match up merchants and advertisers with its Web site visitors. The company, based in Pasadena, Calif., offers an Internet search service where merchants pay for listings. Cadabra is based in San Mateo, Calif. GoTo.com's shares fell $2.625, to $105.625.
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POTOMAC ELECTRIC ACQUIRES DUTCH GAS DISTRIBUTORS
Date: 23 November 1999
By Bloomberg News
Bloomberg News
The Potomac Electric Power Company bought 17 natural gas distribution networks from four local governments in the Netherlands for $525 million in cash, its second investment in the Dutch gas market in four months. Potomac, a Washington-based utility with 700,000 electricity customers, acquired 21 Dutch gas networks for $724 million in August. Both purchases will add to earnings this year, the company said. Potomac and other United States utilities have expanded into Europe to find new sources of revenue as they lose their monopolies over power sales at home.
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COOPER TIRE AND RUBBER AGREES TO BUY SIEBE AUTOMOTIVE
Date: 24 November 1999
By Bloomberg News
Bloomberg News
The Cooper Tire and Rubber Company, the world's No. 7 tire maker, agreed yesterday to buy, for $245 million, a unit of Invensys P.L.C. that makes brake and fuel lines. The Siebe Automotive unit had sales of about $400 million in the year that ended on Sept. 30, with about 53 percent in North America and 37 percent in Europe. Siebe, based in Southfield, Mich., has about 4,000 workers in 16 locations. Cooper, based in Findlay, Ohio, is trying to broaden its appeal to automakers as a worldwide supplier. Invensys, based in London, was formed in February when Siebe P.L.C. and BTR P.L.C. merged.
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MALAYSIA TO REJOIN INDEX
Date: 24 November 1999
By Bloomberg News
Bloomberg News
A Geneva-based index compiler, Morgan Stanley Capital International Inc., said that it would fully reinstate Malaysian stocks into its widely followed portfolio indexes on May 31 and that it would increase Taiwan stocks over the course of a year. The firm will readmit Malaysian stocks into its Emerging Markets Free and All Country Free portfolio indexes all at once. Morgan Stanley Capital International first announced in August it would restore Malaysia and count Taiwan stocks at full weight starting in February. Then, it delayed the changes until May 31 because of concern about possible computer problems related to the leap year in 2000. (Bloomberg News)
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InfoSpace.com Acquisition
Date: 23 November 1999
By Bloomberg News
Bloomberg News
A provider of maps and directories to Web sites, InfoSpace.com Inc., agreed today to buy closely held eComLive.com Inc. for about $33.5 million in stock to add real-time services like video conferences. InfoSpace.com will exchange 355,618 shares of its common shares for all of eComLive.com's shares and options. EComLive.com, based in Fremont, Calif., offers Internet-based services including multimedia broadcasting.
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