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May 25, 1988

BRITISH TELECOM MAY INVEST IN AT&T-PHILIPS VENTURE…

By CBR Staff Writer

The possibility of British Telecommunications Plc being invited to invest in the 60%-AT&T-owned AT&T-Philips Telecommunications NV joint venture was mooted at a press lunch hosted by AT&T Co’s new chairman Robert Allen in Madrid this week. According to the Wall Street Journal, Allen said that as well as discussing the possibility of STET SpA of Italy, and Compania Telefonica Nacional de Espana SA taking equity positions in the joint venture, British Telecom may be invited in – but there had been no talks as yet. And Telecom’s view? If we are invited, we will give it serious consideration and then reply it said.

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