BELLSOUTH CORP, ATLANTA, HAS EMERGED AS THE LEADING CONTENDER TO BUY THE BULK OF THE PUERTO RICO TELEPHONE CO

BellSouth Corp, Atlanta, has emerged as the leading contender to buy the bulk of the Puerto Rico Telephone Co according to the Wall Street Journal: Telefonica de Espana SA is thought to be bidding only for the cellular and long distance businesses BellSouth would be precluded from buying the latter.

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