At&T Vs. Bt

Tough competition between telephone giants AT&T and British Telecommunications PLC is set to begin now that Washington and London have said they'll grant licenses that let each invade the other's turf. Both companies are using London as a base to deliver worldwide services to multinationals. But with both companies offering many of the same services, some analysts predict the fight over market share could mean a cut in large companies' telecommunications bills by yearend.

Before it's here, it's on the Bloomberg Terminal.