USA - Bell Atlantic and GTE announce merger

• published: 21 Jul 2015
• views: 0

T/I: 11:18:01 Two US telecommunications giants, Bell Atlantic and GTE, on Tuesday (28/7) announced plans to merge and create a company with combined revenues of US$53 billion. The merger would create one of the world's biggest wireless communications companies with "extensive and complementary international assets," the two companies said in a statement issued in New York. It would also create the second-biggest US phone company after AT and T. SHOWS: NEW YORK CITY, USA. 28/7 Bell Atlantic CEO Ivan Seidenberg and GTE Chairman and CEO Charles R. Lee shake hands; VS cutaways of GTE-Bell Atlantic press conference; SOT Charles R. Lee, GTE Chairman and Chief Executive Officer, says "It's going to be a company uniquely positioned to meet the growing demand for enhanced data and broad-band communications, telecommunications in the world, which is obviously the most exploding, exciting part. It will be a national company, with a significant international presence. And the hallmark of this company will be its ability to accelerate growth, more growth than either company could have had on their own." Cutaway; SOT Ivan Seidenberg, Bell Atlantic Chief Executive Officer, says "All of this adds up to an incredible combination, one which I believe will give us the resources and the reach to ensure that we are a top-tier telecommunications company, well into the next millenium. In short, we believe this merger of equals is a great deal for the shareowners of both companies, as well as for our customers, our employees, and American people in general." Cutaway; SOT Lee "And it will promote competition, I underline, promote competition, by creating a combined company with major financial, operational and technological resources." WS Press conference. 1.49 You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/1d5dc54fa1f7fadbe26d3e8472276b7d Find out more about AP Archive: http://www.aparchive.com/HowWeWork