BUSINESS MEMO: AMERITECH PROFITS TRIPLE

CHICAGO -- Ameritech Corp., which is seeking to merge with fellow baby Bell SBC Communications, reported its second-quarter profits tripled on the sale of its stake in New Zealand's telephone company and on increased sales of high-speed phone connections.

For the three months ended June 30, the Chicago-based holding company for phone companies in Illinois, Indiana, Michigan, Ohio and Wisconsin reported net income rose to $1.7 billion, or $1.54 a diluted share, from $537 million, or 49 cents a diluted share, a year ago.

The latest quarter included a pre-tax gain of $1.5 billion from the sale of Ameritech's stake in Telecom Corp. of New Zealand.