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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Peppe who wrote (10978)	4/25/1999 1:47:00 PM
From: pat mudge	Read Replies (3) \| Respond to of 18016

Sunday research (not for those who hate links): April 25, 1999 08:37 BT's Asia appetite not sated by Japan deal By Kirstin Ridley LONDON, April 25 (Reuters) - British Telecommunications Plc said on Sunday that a 1.2 billion pound ($1.94 billion) joint investment in Japan with its American partner AT&T Corp would not be its last in Asia. "As opportunities arise, we will contine to explore them and if they make sense to the board, we will seek to implement them," Richard Slogrove, BT's regional director for Japan, told a London news conference. Before this deal, cash-rich BT had ploughed around $2.0 billion into Asia to position itself in an industry analysts expect to account for 60 percent of the world's telecoms market within the next five to 10 years. In their maiden deal since joining forces last July in a $10 billion global joint venture, BT and AT&T said earlier that they would take a joint 30 percent stake in Japan Telecom , Japan's third biggest telecoms operator. The deal is likely to accelerate the gradual effect on Japan of a global wave of telecoms consolidation. And BT said it might seek further deals in Japan, a $100 billion telecoms market that is second only to the United States and which has one of the world's largest concentrations of the most sought-after telecoms clients -- multinational companies. "It is all we have in mind at the moment, but even in Japan, I wouldn't say there isn't the prospect of further investment," said Andy Green, director of BT group strategy and development. "It is a huge market so we are always open to finding good value investment which we believe we can leverage effectively." BT -- whose overtures to former state-owned telecoms giant Nippon Telegraph and Telephone Corp had for years gone unanswered -- said the long-expected deal with Japan Telecom gave it the big presence it needed in Asia. BT vowed to beef up Japan Telecom together with AT&T, and Slogrove said this was the time to "really lay into NTT" in the domestic market. But in an industry where the "compete and collaborate" model is alive and well, BT remains one of NTT's partners in other markets such as Singapore. BT, which has picked up minority stakes in South Korea, Hong Kong, Singapore and Malaysia, said it was unlikely to launch a string of deals with AT&T because its U.S. partner was focused on becoming a full facilities carrier at home. AT&T, America's biggest long-distance carrier, has launched $130 billion of acquisitions at home since its joint venture with BT was unveiled last year. "AT&T, I think, will only be involved in strategically important countries like Japan," Slogrove said. "There are situations we can imagine where we can work together. "But I think you must expect to see BT make substantially more investments than AT&T." The complex Japan Telecom deal absorbs BT's and AT&T's current Japanese affiliates and gives BT a 20 percent and AT&T a 10 percent economic interest in the company. Both groups will send senior directors onto the Japanese firm's board.($1=.6192 Pound) >>>>> att.com [FAQ re: ATT/IBM] att.com C.Michael Armstrong speech: att.com Our global IP network will share a common architecture with BT's networks in the UK and Europe, and with AT&T's in North America. It will be built to open standards because we want the same creative energy developing applications for our network that has already led to the phenomenal growth and success of the Net. It will be a carriers' carrier, attracting all kinds of third-party value. From BT website: bt.com bt.com BT in Japan: bt.com A few BT mentions from NN's website: prodweb.newbridge.com prodweb.newbridge.com prodweb.newbridge.com prodweb.newbridge.com prodweb.newbridge.com prodweb.newbridge.com prodweb.newbridge.com A few AT&T selections: prodweb.newbridge.com prodweb.newbridge.com prodweb.newbridge.com att.com prodweb.newbridge.com Off topic, an excellent article on DT: prodweb.newbridge.com Okay, that's it for now. Pat