SPLIT-UP OF CONCERT TELECOMS JV APPROVED.

PositionBrief Article

The Commission cleared on December 17 the buy back by British Telecommunications plc (BT) and AT&T Corp of the assets they had contributed to Concert, a global telecommunications joint venture created by both parties in 2000. Netherlands-based Concert BV was created in January 2000 by BT and AT&T in order to provide global telecommunications services to multinational business customers. The parent companies told the Commission on November 14 that they wished to terminate the joint venture and recoup the assets they had contributed to it. The re-acquisition of assets by BT does not raise competitive concerns, with BT basically maintaining its current status quo position. The UK/Ireland markets where BT is present, as well as...

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