The Baltimore Sun from Baltimore, Maryland • Page 49

The Sun Thursday, July 6, 2000: Page 3d Man flies to Ghana, BWIsees a new era Mergers and acquisitions Deutsche Telekom shares rise on new rumor Business BWIJrom Page Id Cable and Wireless deal reportedly in works another telecom company." Burks, a telecommunications analyst with J. J. B. Hilliard W. L.

Lyons Inc. in Louisville, said Deutsche Telekom would be a suitable partner for Sprint, given its size and deep pockets. "For all intents and purposes, it would seem that Sprint's likely to be acquired by someone at some point sooner than later," he said. Sprint spokesman Bill White said the company would not comment on any of the recent rumors because "our merger proposal with is still not terminated." WorldCom also declined to German company's strategy and is seemingly back in play with its proposed acquisition by WorldCom stymied by regulatory problems. Deutsche Telekom already owns 10 percent of the No.

3 U.S. long-distance carrier, and analysts say it would be a good step forward for the Germany company. "It's in Sprint's best interest to pursue other options, which may or may not include remaining independent," analyst David Burks said yesterday. "Given that they were willing to merge with WorldCom in the first place, 'e think they would be amenable to a partnership i.e., a merger with Lingus, which, beginning in Sep- tember, will fly three times a week to two airports in Ireland. "Ghana Airways opens up an entirely new continent," said Mary- Transportation Secretary John D.

Porcari, who joined several members of Maryland's congressional delegation and other politicians in celebrating the airline's first flight from BWI yesterday. The catered event complete with African folk music performers in traditional garb was attended by representatives of dozens of ('business and cultural organiza- Development plan awaited With the addition of two new 1 airlines, BWI's international termi Ghana Airways, which also serves Kennedy International in New York, picked BWI for its second U.S. destination city because of its easy connections and convenience relative to Dulles and other airports in the mid-Atlantic region, said Capt. Powis Spencer, who serves on the airline's board of directors. It is also hoped that Ghana, a country of about 19 million, will be a popular draw for many among the estimated 1.5 million West African descendents who live in the Baltimore-Washington area.

The country is struggling to boost its middle class through a variety of economic-development initiatives, including promoting its growing tourism industry. "We hope that this airline will cause more people in America but especially the African-American community to come to Africa and see the land of their fathers," said Kenneth Best of the National Association for the Advancement of Colored People in Montgomery County. boerse, Deutsche Telekom and Cable and Wireless are expected to sign a deal soon, but not before July 19. Cable and Wireless, with a market value of roughly $50 billion, is seen as a good match for Deutsche Telekom and has long been a favorite merger candidate among analysts. "If I had a penny for every time I heard that story, I'd be a rich man," said Ian Johnston, a telecommunications analyst with J.

P. Morgan Co. "Deutsche Telekom has a very active mergers and acquisition program and they could be in different discussions with 20 companies at the same time." The companies refused to comment on the media reports, but the news helped push shares of both higher. Deutsche Telekom rose 3 percent to 57.45 euros ($54.96) in Frankfurt trading, while shares of Cable and Wireless rose 7 percent to 1,246 pence ($18.81) in London. Deutsche Telekom is also reportedly pursuing Sprint, a company that also fits well with the Our Best Catalog I Jiiri A is in Your Head Customized Home Office Home Theater Bring Your Measurements! Made in Our Own Shop! r't BUY DIRECT SAVE Minutes from Baltimore Open Sa 10-6.

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32 (Exit 38 A off 1-95). Across street from CARMAX Leading indicators foresee economy slowing hometown furniture maker YOUR FEET DOOil ASSOCIATED PRESS BONN, Germany Shares in Deutsche Telekom AG were strong yesterday as a new name surfaced in talk about the cash-rich company's continuing quest for an international takeover target. This time it's telecommunications and Internet company Cable and Wireless PLC, a British giant with operations in nearly 70 countries. The speculation follows on the heels of Deutsche Telekom's reported overtures to Westwood, Kan. -based Sprint Corp.

and renewed rumors that it may again be courting Qwest Communications International Inc. after an earlier merger attempt failed in the spring. According to an advance copy of today's German business magazine Focus Money, as well as the investment magazine Die Tele- cent meeting last week, but left the door open to the possibility of another rate increase at its next meeting, Aug. 22. Employment figures are due out tomorrow, and economists say those numbers, along with inflation indexes, could shed light on what the Fed's next move may be.

"At this point it's not really a question of: if the economy is slowing down. We've seen enough that, indeed, it is happening," said Kathleen Stephansen, senior economist at Donaldson, Lufkin Jenrette Securities Corp. "The question is whether the Fed has achieved a balance between price stability and sustaining growth." Goldstein said key economic indicators during the past two years have dropped during the spring, only to rebound during the summer. "We've seen an economic slowing in spring of 2000; it would not surprise me at all to see something a word Scute ft 16t State. Kuti 70od 'Puxtiitute Sofas Dining Bedroom Home Office Home Theater Fine Electronics nal may soon be targeted for growth as part of a comprehensive airport development plan that Gov.

Parris N. Glendening is expected to announce later this summer or early fall, Porcari said. "There's a very good chance we'll see some physical development in this area," he said, referring to expansion plans for the terminal. That news may come as a surprise to some industry observers, who have at times questioned the need for such a large terminal for so little international traffic. International passenger traffic grew by percent last year to 794,702 passengers, still a fraction of the 17.4 million total passengers that flew out of BWI in 1999.

Overall, passenger traffic grew by 16.2 percent last year, making BWI the second-fasting-growing airport in the nation. Eyes on BWI Travel experts say other air- lines are watching to see whether Ghana Airways and Aer Lingus draw more international travelers to BWI. If they succeed, other airlines may follow their lead. "People don't think international when they think of Baltimore," said David Ellerbee, an international travel specialist with Globetrotter Travel in Baltimore. But Ghana Airways may help BWI gain some of the respect it's looking for.

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The Index of Lagging Indicators also rose, climbing 0.2 percent. That gain was fueled by increases in outstanding commercial and industrial loans, prime rates and changes in labor costs. The three indexes are used together as a barometer of overall economic trends. The leading indicators index attempts to forecast the short-term economic outlook, the coincident index assesses current economic activity and the lagging index reflects changes that have already occurred. No job too small or large.

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