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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