How much is Bell Atlantic worth?

Last year, it acquired NYNEX for $25 billion. Under the terms of the deal, each GTE shareholder will receive 1.22 shares of Bell Atlantic for each GTE share they own. That comes to about $54.90 per GTE share, based Bell Atlantic's closing price yesterday of $45.

What did Bell Atlantic do before the merger?

Prior to the merger, Bell Atlantic operated as a premier provider of advanced wireline voice and data services, a market leader in wireless services and the world’s largest publisher of directory information, with operations in and investments in 23 countries.

What happened between Bell Atlantic & GTE?

The Bell Atlantic-GTE transaction – valued at more than $52 billion at the time of the announcement in July 1998 – combined Bell Atlantic’s sophisticated network with GTE’s national footprint to create new a leader in the communications industry. After receiving regulatory approval for the merger, Verizon began operations in mid-2000.

Who is the new CEO of Bell Atlantic & GTE?

The new company, which will be run jointly by Bell Atlantic CEO Ivan Seidenberg and GTE CEO Charles Lee, will have combined revenues of $53 billion. Lee will serve as chairman and co-CEO of the merged company, and Seidenberg will serve as its president and co-CEO.