Following their pact on a semiconductor manufacturing plant in Spain, Compania Telefonica Nacional de Espana and AT&T Co have moved on to agreement on a venture to manufacture telecommunications equipment in northern Spain. Investment in the project, which is planned for early 1989 with an initial 100 employees, is set at $32m. AT&T will take 51% of the new venture, and Telefonica wants local industrial and commercial partners to share the 49% load.
TELEFONICA, AT&T SET $32m TELECOMMUNICATIONS VENTURE
