[GTE and BT???]
Talking turkey or idle chatter????
newsalert.com
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NEW YORK, Nov 28 (Reuters) - Shares of GTE Corp rose Friday amid reports that the local telephone company was in preliminary merger talks with British Telecommunications Plc, traders said. GTE, the second most-active issue on the New York Stock Exchange, gained 1-5/8 to 51-1/2 during a quiet trading session following Thursday's Thanksgiving holiday.
One trader, who declined to be named, said the USA Today report about BT courting GTE attracted attention during the otherwise quiet session. "There's not much else going on. It's pretty dead," the
trader said. GTE spokesman Peter Thonis declined to comment on the USA
Today report, saying the company does not comment on rumors or
speculation. . . .
Although GTE has not formally dropped its $40 a share cash offer for MCI, analysts said the Stamford-based company is likely considering other alliances or partnerships. "I think this is an environment in which everybody is talking to everybody," said Raghu Ram, a telecommunications analyst with Wheat First Butcher Singer. "BT is probably is looking at several options and so is GTE. . . . ">>>
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