British Telecom: A Cart Horse Turns Into A Thoroughbred

In just a year, Peter Bonfield has made BT a stock market hit

Peter L. Bonfield wants to convince the world that British Telecommunications PLC is not just a boring old utility. As he enters his second year as BT's CEO, he is much closer to his goal than many predicted. If, as expected, regulators approve BT's $20 billion-plus plan to buy MCI Communications Corp. this fall, the newly renamed Concert PLC would gain a huge jump on rivals such as AT&T and Deutsche Telekom in the race to build a globe-spanning phone juggernaut. "People are starting to realize that maybe BT

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