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Technology Stocks : AT&T
T 25.56-0.2%2:55 PM EST
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To: BrooklynDave who wrote (2519)6/6/1999 11:52:00 PM
From: BrooklynDave  Read Replies (1) of 4298
 
RE: AT&T BRITISH TELECOM JOINT VENTURE


June 06, 1999 22:32

U.S. regulators to clear BT/AT&T jv by July 4 - FT
LONDON, June 7 (Reuters) - U.S. regulators are likely to give the green light for the proposed global venture between telecom giants British Telecommunications and U.S. AT&T by July 4, the Finanical Times reported on Monday.
Quoting unidentified Washington insiders, the paper said the $10 billion (6.2 billion pound) venture was set to receive the thumbs up from regulators the U.S. Federal Communications Commission and the Department of Justice.

BT and AT&T want the joint venture to offer global telecommunications services to multinational companies and international carrier services to other telecoms operators.

The alliance has already been cleared by European regulators in Brussels.

UK telecoms watchdog Oftel said last week it might modify the licence granted to Concert Communications, which will cover the operations of a proposed international joint venture between BT and U.S. carrier AT&T Corp.

In a consultation on conditions for the licence, Oftel said it was proposing that the joint venture be subject to BT's existing obligations for accounting separation and interconnection in the corporate and wholesale telecoms market

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