RNS No 9808t
AMERITECH CORP
11th December 1998 For further information, contact:
Lisa Kim, 312 220-2377; or pager 800 800-9725
lisa.s.kim@ameritech.com
Ameritech Shareowners Overwhelmingly Say Yes to Combining with SBC CHICAGO - Ameritech (NYSE:AIT) shareowners today voted overwhelmingly to
approve the proposed merger with SBC Communications Inc. (NYSE:SBC). Approximately 95 percent of the votes cast were in favor of the combination.
"Shareowners voted a big thumbs up because it's easy to see how this merger
delivers growth through custom benefits. A strong, growing company is the kind
of provider that shareowners want," said Richard C. Notebaert, chairman and
chief executive officer of Ameritech. "This overwhelming vote underscores the
positive impact the merger will have, not only on our shareholders but on the
communities in which we serve." A combined SBC-Ameritech means growth and enhances the new company's ability to
deliver value to consumers through the scale, scope and resources to develop and
invest in new technologies. The combined company will be even better able to:
- quickly develop new products and services;
- ensure the best customer service, and one-stop shopping for telecom needs and;
- complete globally and create home-grown jobs.
"We want consumers to have another choice through this combination of two great
companies. But, let's face it, the cozy duopoly of AT&T and MCI WorldCom
doesn't want consumers to have the choice of someone new," added Notebaert. "We
know consumers are smart and understand that our combination will give them more
competitive choices in the marketplace." The combination of the two companies has received broad-based support from the
European regulators,and the Communications Workers of America, along with scores
of legislators and community and consumer groups. Yesterday, SBC shareowners
approved the deal at a special meeting in San Antonio.
"We're confident that regulators will agree with what millions of shareowners
have said loud and clear. Let's move forward with a combined company that
provides benefits for consumers and businesses through delivery of improved
communications services and accelerated competition across our industry," said
Notebaert.
The merger is expected to be finalized by mid-1999.
Ameritech (NYSE:AIT) serves millions of customers in 50 states and 40 countries. Ameritech provides a full range of communications services including local and
long-distance telephone and data, cellular, paging, security, cable TV, Internet
and more. One of the world's 100 largest companies, Ameritech
(www.ameritech.com) has 71,000 employees, 1 million shareowners and more than
$29 billion in assets.
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