Take A Number If You Want To Grab Gte

Telecom giants such as AT&T, Sprint, and Cable & Wireless are possible suitors

When merger talks between AT&T and SBC Communications Inc. broke off in late June, about $3 billion in market value was created. No, not at AT&T or SBC. The big winner was GTE Corp., where the stock jumped 9%, to 47, before settling back recently to 46. Why? Wall Street is betting that AT&T still wants to buy its way into the local telephone market, and acquiring GTE looks like the best way to do it.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.