P.M. BRIEFING : AT&T; Unit Makes Deal With China
A Dutch subsidiary of American Telephone & Telegraph Co. said today that it has formed a joint venture with two arms of the Chinese government to produce telecommunications equipment in China.
AT&T; Network Systems International BV will own 50% of AT&T; of Shanghai Ltd., the company said. The other partners include the Shanghai Optical Fiber Communications Engineering Corp., owned and managed by the city’s municipal government, which will own 28% of the new company. The Shanghai Telecommunications Equipment Factory will own the other 22%.
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