AT&T proposes long-distance spinoff; bundled services, talks with Nextel and BT are likely to continue

Article Abstract:

AT&T Corp. is considering a spinoff of its long-distance telephone services business. One of the possible buyers of the long-distance concern may be Verizon Communications Inc.

Financial management, AT&T Corp., Investor relations, Spinoff company, Spinoffs (Corporate)

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Restoring phone, data services will take months; that could mean headaches for everyone from the New York Stock Exchange to the nation's largest banks

Article Abstract:

In the wake of the Sep. 11, 2001 terrorist attacks on the World Trade Center, New York City-based local telephone service provider Verizon Communications says it will be months before the company can restore full telecommunications services to homes and businesses in lower Manhattan and on Wall Street. A vital Verizon communications center which serves many of the city's major corporations was located next to World Trade Center building No. 7 which also collapsed. The damage at that facility is considerable and it is expected to take months to repair. Companies like Verizon and AT and T Corp. will use this time to take stock of their phone networks, looking at how ably they performed during this crisis time, and then making necessary changes.

Services information, Services, Influence, Company services, Verizon Communications Inc., VZ, World Trade Center and Pentagon Attacks, 2001

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AT&T expects big charge on Concert

Article Abstract:

AT&T Corp. expects to take a $5.3 billion charge in the third quarter related to the dissolution of its international joint venture with British Telecommunications Group PLC, Concert. Both telecommunications firms anticipate additional related charges in the fourth quarter. As part of the dissolution, AT&T will buy back the interest held by BT in AT&T Canada. AT&T will take a related $1.8 billion charge in the third quarter and is obligated to buy all the shares outstanding it doesn't already own by June 2003, but will have to meet Canadian requirements on foreign ownership, or else find a buyer and make up the difference between sale price and the price guaranteed by the accord.

United Kingdom, Canada, Telecommunications, Telephone Communication, Long Distance Telephone Svc, Statistical Data Included, Management, Joint ventures, Long distance telephone services, British Telecommunications PLC, Securities, AT&T Canada Long Distance Services Co., Concert

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