AT&T, TCI Studying U.K. Local Phone Market, Paper Reports
Bloomberg News
June 30, 1998, 8:03 a.m. PT
New York, June 30 (Bloomberg) -- AT&T Corp. and Tele-
Communications Inc. are looking to the success of British
cable television and phone service combinations as they plan
the combined company after AT&T's purchase of TCI, USA Today
reported. Both companies said the U.K. phone market, where
cable operators have captured about 10 percent of local
phone business, proves AT&T's acquisition of the second-
largest U.S. cable TV operator will work. Critics, though,
who point to the vagueness of AT&T's technology plans, warn
that U.K.'s cable infrastructure is very different than the
companies' proposal, the paper reported.
The shares of AT&T, the largest U.S. long-distance
phone company, have fallen about 13% since Wednesday's
formal acquisition announcement on concerns that that the
company will be forced to spend billions of dollars to
improve TCI's network.
(USA 6/29 2B www.usatoday.com)
--Will Edwards in the Princeton newsroom (609) 279-4039/rmk |
