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To: MR. PANAMA (I am a PLAYER) who wrote (5729)	7/27/1998 2:42:00 AM
From: pat mudge	Respond to of 18016

More news --- KDD to join BT-AT&T alliance, GTE and BA in merger talks: >>> Sunday July 26, 11:11 pm Eastern Time KDD says intends to join BT-AT&T telecoms alliance TOKYO, July 27 (Reuters) - Japanese telecoms operator KDD (Kokusai Denshin Denwa Co Ltd) said on Monday it would shortly begin talks with British Telecommunications Plc and AT&TCorp to join their alliance. ''We will soon begin talks with the two firms' executives who are shortly visiting Japan,'' a KDD spokesman said. ''It can safely be said that KDD will become a partner of the new alliance,'' he said. BT and AT&T announced on Sunday that they had agreed to form a $10 billion transatlantic joint venture by pooling international assets. AT&T also said the World Partners alliance, in which KDD is a founding member, would not be extended beyond 1999. ''Even if the (World Partners) alliance is liquidated, the market and the clients to whom we are offering services remain,'' he said. KDD will be in charge of the Japanese market under a new partnership agreement with BT and AT&T, he added. >>>: >>> Monday July 27, 1:25 am Eastern Time GTE in merger talks with Bell Atlantic - USA Today NEW YORK, July 26 (Reuters) - Bell Atlantic Corp. (BEL - news) and GTE Corp. are in merger talks to create a U.S. telecommunications powerhouse with revenues of $53 billion, second only to those of AT&T Corp (T - news), USA Today reported Monday. Talks between Bell Atlantic and GTE are described as preliminary but serious, and could result in an announcement as early as this week or drag on for months without producing a deal, senior executives from both companies told the newspaper. Spokesmen for Bell Atlantic and GTE declined to comment on the report. AT&T and British Telecommunications Inc (quote from Yahoo! UK & Ireland: BT.L) on Sunday announced they planned to set up a $10 billion international partnership. GTE, predominantly a local phone company, made an unsuccessful bid for MCI Communications Corp. (MCIC - news) in late 1997. Its proposal was topped by a bid from WorldCom Inc. (WCOM - news). It has been rumoured that Stamford, Conn.-based GTE has been in talks with a number of other telecommunications companies since the MCI deal fell through. Bell Atlantic, one of the original ''baby bells,'' is predominantly a local phone company and last year bought Nynex Corp. The $25.6 billion merger created the United State's second-biggest telephone company after long-distance giant AT&T. Both Bell Atlantic and GTE have recently made efforts to bolster their data and long-distance services. Talks between the two companies began two months ago but recently gained momentum, the newspaper reported. Executives from both sides have met face-to-face and spoken over the phone in recent days, Investment banker Merrill Lynch is acting as adviser to Bell Atlantic, while Goldman Sachs is representing GTE. Bell Atlantic has looked at other possible deals, including one with Bellsouth. It has given GTE top priority because it would be easier to meld the two companies' cultures, USA Today reported. >>>>