View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 7, 1987

INVESTOR LEBOW WANTS TO MERGE ITT WORLDCOM, WESTERN UNION

By CBR Staff Writer

New York investor Bennett LeBow is thought to be ready to pay around $200m for ITT Corp’s ITT World Communications, which operates international telex services between the US and some 200 other countries. According to the Wall Street Journal, LeBow’s plan is to supplant the Pacific Assets Holding and MDC Holdings consortium that is seeking to gain control of Western Union Corp, and to merge ITT WorldCom into the struggling Upper Saddle River, New Jersey company. The agreement under which Pacific and MDC would acquire control of Western Union and pump $250m into the company, is hedged with an array of conditions, many not yet met, and expires May 29. LeBow is believed to be willing to put $250m into Western Union with fewer strings. Some observers believe he also wants to add RCA GlobCom, currently owned by GE, to the merged company.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU