Concert Get Operational Control of Joint Venture

British Telecommunications PLC 10 November 1999 BT AND AT&T GIVE GREEN LIGHT TO CONCERT BT and AT&T announced today the transfer to Concert's leadership team of operational control of the assets and businesses each parent will contribute to the global joint venture. This gives David Dorman, chief executive officer of Concert, immediate responsibility for managing the business and assets of the new venture. Sir Peter Bonfield, BT's chief executive, said: 'I am delighted that with all the regulatory approvals received, we are now moving towards the practical business of delivering service to customers.' Concert received final approval from the Federal Communications Commission on October 22 and approvals from the European Commission and the US Department of Justice earlier this year. C. Michael Armstrong, AT&T's chairman and CEO, said: 'This is tangible proof of our commitment and confidence in Concert and AT&T's continuing execution of our strategy for serving global customers.' This is the last important milestone before the final close in January. David Dorman said: 'This is a significant step for the employees of Concert, who can now deliver to customers the networks, products, services and comprehensive support that were envisaged when this company was first conceived.'

Companies

BT Group (BT.A)
UK 100