The transatlantic fibre-optic cable venture PTAT 1 progressed to its first shore landing, at Brean in Somerset last week, but the continued participation of key shareholder-by-proxy Nynex Corp is still in doubt. The deadline for the New York and New England phone company to commit itself to the project is today, July 1, but Nynex is still awaiting a waiver from the redoubtable Judge Harold Greene to allow it to take part in the long distance project. Nynex has contracted to buy out PTAT Systems Inc’s provisional shareholding in the venture which would promote it to an equal 50-50 partnership with Cable & Wireless on the project. Nynex said that there was no sign of a judgement being delivered before the imminent deadline but said that the company would seek an extension, if it is not forthcoming. The US shore-end of the fibre cable is also scheduled for implementation right now, with the main Atlantic cable laying due to start next month; live service on the cable is planned for summer 1989.
