American Telephone & Telegraph Co. has agreed...

American Telephone & Telegraph Co. has agreed to buy a small finance unit from Manufacturers Hanover Trust Co., the companies announced. The value of the deal was not disclosed. AT&T; Credit Corp.’s purchase of the inventory finance division of Manufacturers Hanover’s CIT Group will enable it to provide financing to independent dealers, distributors and resellers of AT&T; equipment, AT&T; said. The division has 47 employees and is based in Livingston, N.J.