AT&T in talks with European utilities
Tuesday 09 November 1993
'We have had discussions with them with respect to partnering in the last year or so,' Mr Allen said in Detroit. He could not say whether a memorandum of understanding had been drafted by the three companies, as one report suggested yesterday.
AT&T has made no secret of the fact that it has been looking for a European counterpart for the trans- Pacific agreement it signed last May with utilities in Japan and Singapore. Spokesmen for both European companies said it was premature to talk about a formal agreement, although the report - published in Communications Week International - suggested the new venture would be announced early next month.
The joint venture, which would serve multinational corporations active in Europe and North America, would be a direct competitor to the partnership announced earlier this year by British Telecommunications and MCI, the US long-distance carrier. The ventures would offer integrated networking services to global firms, allowing them easy communications among staff on both sides of the Atlantic.
The partners would lock in each other's customers, offering 'seamless' service based on common international standards.
BT paid dollars 4.3bn for a 20 per cent stake in MCI, while AT&T and the two Asian utilities - Japan's Kokusai Denshim Denwa and Singapore Telecom - are expected to invest about dollars 100m in their new business service, which is known as Worldsource. Mr Allen said yesterday that a transatlantic alliance would probably be structured similarly, as a joint venture of the three partners rather than as a closer partnership involving cross-investment; both France Telecom and Bundespost are state companies.
- 1 Moscow voted the world's unfriendliest city
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 4 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
- 5 If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Senior British politicians tell David Cameron: When dead children are being washed up on beaches, it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...