British, German, Japanese Phone Venture Possible

The major telephone companies of Britain, Japan and Germany are discussing a joint venture that would serve international business customers.

British Telecommunications PLC confirmed Friday that it is in talks with Nippon Telegraph & Telephone Corp. and Germany’s Deutsche Bundespost Telecom. BT declined to give details.

The Financial Times said BT would have a 48% stake in the venture, named Pathfinder, with the other partners having 26% each.

The newspaper said the group, acting as a subcontractor, would operate global companies’ internal telecommunications systems.

The Financial Times also said the companies would divide up the world phone market. BT would offer Pathfinder services in the United States through its Tymnet unit. BT and DBP Telecom would handle Europe, and NTT would handle Asia.

At least one major U.S. company has confirmed that BT has approached it about supplying Pathfinder’s services.

“We’re considering it,” said a spokesman for International Business Machines Corp.

But he denied industry speculation that IBM would become a partner in Pathfinder, saying the computer giant is not going to take an equity stake in the venture or maintain a “special relationship.”

American Telephone & Telegraph Co. already offers a similar service to U.S. multinationals. Its package includes services and equipment.

George Dellinger, an analyst in the Washington office of County NatWest, said Pathfinder faces many hurdles before it can get off the ground. The sheer size of the three companies is one.

Dellinger said it would be “difficult for three highly bureaucratic” telecommunications companies.