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September 30, 1998

AT&T ENTERS BIDDING FOR IBM NETWORK BUSINESS

By CBR Staff Writer

AT&T Corp is now in talks with IBM Corp about the possible purchase of Big Blue’s Global Network business, according to Rick Roscitt, president and chief executive of AT&T’s Solutions unit. After an alliance which sees the two teaming with Banc One Corp in a three-way $1.8bn outsourcing deal aroused speculation that AT&T was interested, the company confirmed that it is indeed in discussions about the sale, although it hastened to add that there are other interested parties. It wouldn’t comment further. IBM confirmed in mid-September that the business, which is said to be worth $3bn – $4bn, was on the block. The sale is to be overseen by Merrill Lynch & Co. Japanese telecom giant Nippon Telegraph and Telephone Co has also surfaced as a possible buyer, while the UK’s Cable & Wireless Plc – with whom IBM recently signed a large outsourcing deal – has been mentioned as well.

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