France has reconsidered selling CGCT to AT&T;.

American Telephone & Telegraph sought to buy France’s second-largest telephone switching firm, state-owned Cie. Generale de Construction Telephonique. But government sources indicated that it may not sell to any foreign firm, instead abiding by a denationalization law that prevents foreign concerns from buying more than 20% of a French company. No date has been announced for CGCT’s privatization. AT&T; said it will submit a new proposal complying with the French ownership requirement. A foreign takeover was viewed as necessary after France’s Cie. General d’Electricite merged with ITT last June, forming what will become the world’s second-largest company in the field.