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TIMELINE-S&P Telecommunications index dwindles to four companies
May 22, 2017 / 7:13 PM / 4 months ago

TIMELINE-S&P Telecommunications index dwindles to four companies

    May 22 (Reuters) - The S&P 500 Telecommunications Services
Index           has shrunk from 14 companies in its heyday in
1996 to just four companies in 2017 after a slew of mergers.
            
    
    Here is a timeline of the sector's two-decade shrinkage
        
    1996 - An index is born
    S&P broke out what were then the biggest U.S. telephone
companies into their own sector index with 14 companies
    
    1997 
     * Bell Atlantic buys Nynex, SBC buys Pacific Telesis 
     * Frontier Corp joins 
     * Index ends year with 13 stocks 
    
    1998
    * WorldCom buys MCI Communications to form MCI WorldCom 
    * Nextel Communications, Sprint PCS tracking stock join 
    * Index ends year with 14 stocks
    
    1999
    * SBC buys Ameritech, Vodafone buys Airtouch, Global
      Crossing buys Frontier Corp
    * Global Crossing, Century Telephone join
    * Index ends year with 13 stocks
    
    2000
    * Qwest Communications buys U.S. West, Bell Atlantic buys
      GTE Corp to form Verizon Communications
    * Qwest joins
    * Index ends year with 12 stocks
    
    2001
    * Citizens Communications buys Global Crossing assets 
    * AT&T Wireless Services, Citizens Communications join 
    * Index ends year with 13 stocks
        
    2002
    * MCI WorldCom leaves S&P 500 amid accounting scandal
    * Index ends the year with 12 stocks
    
    2004
    * Cingular, a BellSouth/SBC venture, buys AT&T Wireless
    * Sprint scraps PCS tracking stock
    * Index ends year with 10 stocks

    2005 
    * SBC buys AT&T, renames as AT&T Inc, Sprint buys Nextel 
    * Index ends year with 8 stocks
    
    2006
    * Verizon buys MCI WorldCom, Alltel wired unit and Valor    
     form Windstream, AT&T completes BellSouth purchase 
    * Embarq Corp joins   
    * Index ends year with 10 stocks
    
    2007
    * Alltel Corp leaves S&P 500 after P/E acquisition
    * American Tower joins 
    * Index ends with 9 stocks
    
    2008
    *Citizens Communications becomes Frontier Communications
    * Index ends year with 9 stocks
    
    2009 
    * Century Telephone buys Embarq, renames as CenturyLink
    * MetroPCS Communications joins
    * Index ends year with 9 stocks
    
    2011
    * CenturyLink buys Qwest 
    * Index ends year with 8 stocks
    
    2012 
    * American Tower becomes a REIT
    * Crown Castle International joins
    * Index ends year with 8 stocks
    
    2013 
    * T-Mobile US buys MetroPCS, SoftBank buys Sprint stake
    * Sprint, MetroPCS leave S&P 500
    * Index ends year with 6 stocks 
    
    2014
    * Crown Castle becomes a REIT, Level 3 Communications joins 
    * Index ends with 6 stocks
    
    2015
    * Windstream leaves S&P 500
    * Index ends with 5 stocks
    
    2017
    * Frontire Commmunications leaves. 
    * Index has 4 companies: AT&T Inc, Verizon Communications,
    CenturyLink and Level 3
    * Shrinks to 3 if CenturyLink completes Level 3 deal

 (Reporting By Sinead Carew; Editing by Bernard Orr)
  

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