WHEN WE SPOKE to AT&T’s CFO Tom Horton last year, he argued that consolidation was necessary in the US telecoms market if pricing pressure were to be reduced and long-term revenue decline reversed. “We’re near the end of a multi-year shake-out in the industry and some of these business models are not sustainable,” he said.
He was right. Three months later, this January, his own company was bought by SBC in a deal valued at $16 billion.
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