AT&T cuts $2 billion from capital plan
AT&T expects its capital spending to decrease by 20% or more in 2002. In the meantime, the company is focused on sorting out its Concert joint venture and claims it is talking to multiple parties about possibly buying or investing in AT&T Broadband,.
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AT&T reportedly has been in talks with AOL Time Warner, Cox Communications, Microsoft and Walt Disney regarding AT&T Broadband, which was put up for sale in July after Comcast made an unsolicited offer to buy it. The situation surrounding Concert, AT&T's international joint venture with BT, is expected to be resolved in the next several weeks.
--Kelly Carroll, staff writer
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© 2012 Penton Media Inc.
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