AT&T Unisource, the joint venture of AT&T Corp and Unisource NV, is still hoping to recruit Telecom Italia SpA into the venture, even though the European Union has blocked Telecom Italia’s entry into Unisource until the Italians open up their telecoms market to deregulation. The chief executive of AT&T Unisource, predicted that Telecom Italia will join Unisource sometime in the third quarter of the year. He predicted that the loss making venture, which provides communications services to multinational companies, would grow its revenues by 50% in 1998 to around $428.5m, and would soon be profitable.
