TOKYO-Japan Telecom, AT&T Corp. and British Telecom plc formally announced a strategic and operational partnership under which AT&T and BT will acquire a joint 30-percent stake in Japan Telecom for $1.83 billion.
AT&T and BT will hold their respective 15-percent interests in the company through a jointly owned holding company. Japan Telecom will become the exclusive distributor of both AT&T-and BT-branded services and a preferred service supplier to that global venture.
Additionally, AT&T and BT plan to build an Internet Protocol network that would be compatible with one planned by Japan Telecom. The global venture also will use Japan Telecom’s network infrastructure to enhance coverage in the area, the companies said.
