Blog Post

AT&T Planning International Ventures

The Wall Street Journal has a piece on AT&T (NYSE: T) and its recently revived move into overseas markets. Top of the list is India: “In July, after barely a month as CEO, Mr. Stephenson and his chief deal maker traveled to India to lobby regulators to allow AT&T to bid on third-generation wireless spectrum. The company also has been looking for a wireless acquisition in India, people familiar with the situation say, as well as to significantly expand its Internet and phone services to businesses…”I need multibillion-dollar revenue streams to move the needle, and I view this as a multibillion-dollar revenue opportunity,” Mr. Stephenson said in an interview. “Everything is here for us to do well.” The company is also looking at China, Vietnam, Saudi Arabia and Kuwait. Verizon (NYSE: VZ) is also looking to get into India, which is seen as one of the big growth areas for mobile services.