British Telecom and AT&T in talks on partial merger
British Telecommunications and the US telecoms giant AT&T, are in talks about a possible merger of two of their main activities, the Financial Times reported Saturday.
The two companies are looking at joining forces in their business services and wireless operations, creating two stand-alone units that would free them to run their domestic consumer activities separately.
Although several top-level meetings had already taken place, no plan had yet been approved, the paper said, citing a source close to the talks.
The very complexity of the reorganization that would be required by the changes could in the end prove fatal to the project, the paper added.
British Telecom and AT&T already have a joint subsidiary, Concert, which provides telecom services to multinationals.
The Wall Street Journal Europe reported talks of a merger between the two operators in mid-August.— (AFP)
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