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To: Mark Fowler who wrote (46570)	3/19/1999 8:46:00 PM
From: Glenn D. Rudolph	Respond to of 164684

AT&T, Primary Resistance 88-89 Secondary Resistance 96-97 Primary Support 81-82 Secondary Support 75-76 Mark, Thank you again. Glenn

To: Mark Fowler who wrote (46570)	3/19/1999 9:06:00 PM
From: Glenn D. Rudolph	Respond to of 164684

This may have had some affect: March 19, 1999 AT&T, BT Are in Talks to Buy Stake In Japan Telecom for About $1 Billion By GAUTAM NAIK Staff Reporter of THE WALL STREET JOURNAL LONDON -- AT&T Corp. and its partner British Telecommunications PLC are in negotiations to acquire a joint 30% stake in Japan Telecom for about $1 billion, people close to the companies told The Wall Street Journal Europe. Under the transaction, BT would end up with a 20% stake, while AT&T's interest would be 10%. The deal hasn't been finalized, however, and the discussions could still break down, according to people familiar with the plans. Shares of Japan Telecom were suspended in Tokyo on Friday after news of the talks was reported in Japan's Nihon Keizai newspaper. If the Anglo-American team can clinch the deal, it will represent a growing presence of foreign carriers in the coveted Japanese phone market. Japan Telecom is the country's third-largest long-distance carrier, and would considerably boost BT and AT&T's ability to serve multinational customers in the region. AT&T and BT declined to comment. Japan Telecom officials couldn't immediately be reached for comment.The Japanese company earlier issued a terse statement: "Regarding the report about an alliance with foreign companies, at present nothing has been decided." Japan is being especially targeted by foreign carriers because it has one of the fastest-growing telecom markets. For instance, Cable & Wireless PLC is also considering acquiring a controlling stake in International Digital Communications of Japan, people close to the British carrier say. Cable & Wireless already holds an 18% stake in IDC, which carries international phone and data traffic. BT and AT&T are eager to establish a strong presence in Asia to better pursue large corporate customers throughout the world. Last summer, BT and AT&T agreed to create a $11 billion venture that would target multinationals. Japan Telecom, which is partly owned by a local railway company, merged in 1997 with International Telecom Japan Inc. It is far smaller, however, than Nippon Telegraph & Telephone Corp., the dominant Japanese carrier. British Telecom has had a presence in Japan since 1985. Today, it owns 70% of BT Communications Services, a carrier that has a license to build its own infrastructure and offers data services to multinationals in Japan. Marubeni Corp. owns the remaining 30% stake in the company. BT also recently won licenses to provide high-speed data, Internet and entertainment services in several key Japanese cities. BT, which is sitting on a hoard of cash, has made various investments in Asia recently. Late last year it paid some $415 million to buy a 33% stake in a Malaysian carrier, and an investment of about $360 million in a South Korean carrier. AT&T has a venture with 25 Japanese companies known as AT&T Jens, which provides Internet services and voice calls over the Internet.