US Sprint Communications is tipped as the most likely replacement for Nynex Corp to hold the US end of Cable & Wireless Plc’s PTAT 1 private transatlantic fibre optic cable. Finding of a US partner is now pressing, because the cable is scheduled to come into service in the summer. The mechanism would involve Kansas City, Missouri-based US Sprint, which is controlled by United Telecommunications Inc, buying Private TransAtlantic Telecommunications System Inc, a company formed in Washington for the purpose of holding 50% of the $350m venture. If US Sprint does reach agreement, it is expected to look for other partners in the venture.
