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May 23, 1994


By CBR Staff Writer

Tulsa, Oklahoma-based Williams Cos Inc says it has turned down all the unsolicited alternative offers from LDDS Communications Inc to acquire its WilTel telecommunications unit: the board did however authorise management to explore with LDDS various other forms of transactions between the companies to achieve synergies that might result in additional long-term value for both companies; the board also directed management to continue to study several other alternatives, such as possible alliances with one or more other partners – the company is said to have been talking with Cable & Wireless Plc about a merger of WilTel with Cable’s US interests to create an equally-owned company.

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