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August 11, 1988

NYNEX INTERNATIONAL FORMS GLOBAL NETWORK SERVICES UNIT

By CBR Staff Writer

The fledgling Nynex International overseas business arm of Nynex Corp, Nynex International, has moved to raise its profile with the formation of a Global Network Services Division. Value-added and network-related service projects will form the core of the new division’s activities, and it is seeking to make acquisitions and form joint ventures in partnership with European PTTs. Nynex has already signed formal co-operative exchanges with France Telecom and the Dutch telephone administration but is stepping up the pace of its efforts in preparation for the promised open market of 1992. Nynex’s greatest strength is network services claimed Eugene Sekulow, president of Nynex International. Gabriel Yackanich, a Nynex vice president, is to head up the new division.

Nynex Corp has duly filed with the US District Court in Washington – that’s the formal way of saying applied to Judge Greene for a waiver to participate in the PTAT-1 trans-atlantic cable venture. We cannot believe that our nation’s anti-trust laws and decisions were intended frustrate this type of pro consumer and pro-competitive initiative said Ivan Seidenberg, Nynex senior vice president, but with the US Justice Department having denied the request, its chances look poor.

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