US telco GTE Corp is apparently planning to get into Europe as an alternative to its failed takeover of MCI Corp. Michael Masin, vice chairman and president of GTE International, hinted that the company was on the verge of completing a European deal. The company has apparently been negotiating with France Telecom SA and Deutsche Telekom AG, and a variety of smaller telecoms outfits, in an attempt to develop closer ties in Europe. Masin believes that GTE will not succeed in its all cash $40 dollar a share bid for MCI that it has left on the table, in case MCI’s current deal with WorldCom falls through. Also, GTE has been repeatedly rumored as the next possible merger partner for British Telecommunications Plc.
