Business Services Industry
AT&T Deal Took a Meeting, Simple Handshake and $12.6 billion, McCaw Says. (Originated from The Seattle Times)
Knight Ridder/Tribune Business News, August, 1993 by Corr, O. Casey
Aug. 17--Craig McCaw boarded a pnaae last Friday, wondering if the biggest deal of his life was headed for collapse. The founder and chief executive of McCaw Cellular Communications tentatively had agreed last November to sell one-third of his company to American Telephone & Telegraph Co. for $3.8 billion.
For months, Craig McCaw's deputies had struggled to work through details of the deal. How would revenues be split? What about areas where they would be competing? Would McCaw use discounts on long distance granted by AT&T to undercut AT&T's sales force? How should they structure a 99-year lease by McCaw of the AT&T brand name?
No one could come up with workable answers. Another chief executive, Robert Allen of AT&T, was flying into New York that day, also...
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