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To: Frank A. Coluccio who wrote (7194)	3/31/1999 10:08:00 AM
From: E. Graphs	Read Replies (1) \| Respond to of 29970

Interesting post on IATV thread: exchange2000.com >>....Separately, the European Union Commission gave conditional antitrust clearance to an international services joint venture between AT&T Corp. (T) and BT, although the companies agreed to create "greater structural separation" between the U.S.-based telecoms giant and its 21.6% interest in Telewest. AT&T inherited the stake when it acquired Tele-communications Inc. last year. Since then, the Telewest interest and other, mostly programming, assets have been placed in Liberty Media headed by former TCI chief John Malone. Analysts said the EC ruling meant that Liberty Media's board would operate autonomously from AT&T on business matters relating to Telewest. But few doubt that AT&T will sell the stake, which carries a market value of about GBP1.2 billion. "I still ask the question long term of what's the objective for AT&T holding a stake in that business," said one cable company executive. "There's some significant value in that and they will be looking how to realize it."<<