GTE Seen As Takeover Target

Mon Jul 21 03:48:36 UTC 1997

Some interesting speculation about GTE's future.

Randy

> GTE Seen As Takeover Target - Report           [Reuters News Service]
> 09:46 a.m. Jul 21, 1997 Eastern
> 
> NEW YORK - GTE is seen as an attractive
> takover target as long distance carriers aim
> to enter local telecommunications markets and
> capitalize on GTE's strength in Internet and
> data transmission, Business Week reported in
> its July 28 issue.
> 
> GTE's chief executive officer Charles Lee is
> not discouraging merger talk, the magazine
> said.
> 
> ``I'll continue to explore other business
> arrangements to the extent that they make
> sense for helping shareholders,'' Lee told
> Business Week.
> 
> Since GTE is spread out in 28 states in mostly
> rural or suburban regions, the company would
> serve as a springboard for a leading carrier
> such as AT&T, MCI Communications, or Britain's
> Cable & Wireless to enter local businesses,
> the magazine reported.
> 
> GTE's proposed acquisition of BBN and its
> fiberoptic capacity arrangement with Qwest
> Communications gives it a strong position in
> data transmission, the magazine said.
> 
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