Word: sommerness
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...Sommer has fumbled a string of proposed corporate marriages. Last year he failed to pry Qwest Communications loose from a merger with US West. Before that he tried to merge with Telecom Italia but lost a humiliating battle to a much smaller Italian rival. In the process, Sommer managed to alienate his partners at France Telecom, torpedoing a four-company alliance...
...Europe's longest-running business soap operas: Will German phone giant Deutsche Telekom finally take the plunge in the U.S. market? Ron Sommer, who heads the $200 billion company, needs a U.S. beachhead to make his former monopoly a global telecom player. And he has $100 billion for acquisitions burning a hole in his pocket...
Just last month, when Sprint's proposed merger with WorldCom was blocked by antitrust regulators, Sommer sent a marriage proposal to Sprint, where he already has a 10% stake. No dice. The plan was immediately attacked by a group of U.S. Senators who vowed to thwart any effort by DT, which is 58% owned by the German government and not exactly renowned for being customer friendly, from taking control of Sprint. Their position has angered the European Union, which calls it a violation of a 1997 global-trade deal and is threatening to retaliate...
...heat is turning up now because Sommer has turned his affections toward VoiceStream Wireless, reportedly offering $53 billion in stock and cash for the Bellevue, Wash., firm. That works out to a pricey $20,000 per customer, high enough to send DT's stock plunging 9% last week. Still, VoiceStream may be worth it. "To fulfill its global ambitions, Deutsche Telekom needs a stable position in the U.S. market," says analyst Holger Grawe at German bank WestLB, adding that the supply of U.S. companies is limited. DT reportedly hired a Washington law firm last week to lobby Congress. Sommer...
...With the successful completion of the Capital Campaign this year, Knowles wrote in an e-mail message that he will discuss with Lee and Sommer "how best further to enrich our curricular offerings in [ethnic studies]," adding that his first priority is to help the departments most in need of Faculty...