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To: Harry Sharp who wrote (3018)	7/24/1998 7:59:00 PM
From: Gary Yerman	Read Replies (2) \| Respond to of 11568

Don't hold me to this but they said something like this would replace MCI who is getting out of this part of the business. They didn't get into it much because of the shooting. Hope this helps, good luck all.

To: Harry Sharp who wrote (3018)	7/24/1998 9:59:00 PM
From: SDR-SI	Read Replies (1) \| Respond to of 11568

Harry: I don't think you understand: First, AT&T will do anything it can to make more poor decisions that only further weaken its prior franchise as the #1 telecommunications company. Second, as long as GTE says it's OK, the EU regulators will approve an AT&T-BT alliance without delay. As long as such an alliance offers no real competition to GTE, they will say its OK and safe for the world. Third, it will allow two of the world's most regulated carriers to join together and feed upon each other's ability to substitute slow motion thinking for dynamic business analysis. Maybe WCOM should sponsor the alliance. (So much for Friday night sarcasm) <gg>. Steve

To: Harry Sharp who wrote (3018)	7/25/1998 12:01:00 AM
From: Anthony Wong	Read Replies (1) \| Respond to of 11568

AT&T, British Telecom to Form Intl Venture, CNBC Says (Update1) Bloomberg News July 24, 1998, 8:09 p.m. ET AT&T, British Telecom to Form Intl Venture, CNBC Says (Update1) (Adds background.) New York, July 24 (Bloomberg) -- AT&T Corp. and British Telecommunications Plc could announce an international joint venture as early as this weekend, CNBC reported. No assets were discussed, though the alliance would give AT&T access to the U.K. market and British Telecom access to the U.S. market, and AT&T would replace MCI Communications as British Telecom's U.S. international partner. British Telecom and MCI entered a joint venture in 1993, though that deal will be over as soon as WorldCom Inc. completes its purchase of MCI, CNBC said. AT&T wouldn't comment on what it called a ''speculative'' story. In 1996, British Telecom agreed to buy MCI to further their joint venture, called Concert Communication Services, which provides phone services around the world to international companies. That agreement was broken up last November by No. 4 U.S. long-distance company WorldCom, which outbid British Telecom and agreed to pay $7 billion in cash for the U.K. company's 20 percent stake in MCI. Since then, British Telecom has been looking for new partners in the lucrative U.S. market. After WorldCom completes the MCI purchase, expected later this summer, the combined company will be a non-exclusive distributor of Concert's services in the U.S. British Telecom agreed to buy MCI's 24.9 percent stake in Concert for an undetermined amount. The agreement would extend the reach of AT&T, whose own Unisource venture with several European phone companies has lagged Concert in signing up partners and customers. The AT&T- Unisource alliance doesn't give AT&T the ownership of networks Chief Executive C. Michael Armstrong says he needs to serve customers better. Armstrong, who joined the U.S.'s largest phone company last fall, has been moving quickly to cut costs and boost sales by investing in high-growth businesses: wireless, local, Internet and international. So far, he's checked off all but international -- culiminating with an agreement last month to buy No. 2 U.S. cable company Tele-Communications Inc. for $45.6 billion in stock and assumed debt to boost local phone sales. ''AT&T needs to strengthen its global reach, and BT has been desperately searching for a way to tap the U.S. market,'' said Jeffrey Kagen, president of market researcher Kagen Telecom Associates. (CNBC 7/24) --David Wells in the Princeton newsroom (609) 279-4053 and Andrew