Western Union Completes AT&T; Deal: Western Union...
From Times Staff and Wire Reports
Western Union Completes AT&T; Deal: Western Union Corp., hoping to avoid involuntary bankruptcy, completed a deal to sell its telex and electronic mail businesses to American Telephone & Telegraph for $180 million. Western Union will use the money to buy back some of its junk bonds, helping to ease its crushing interest-payment burden. Western Union’s remaining operations are its money-transfer service, electronic bill-paying service and electronic letter services such as Mailgram.
