ROANOKE TIMES Copyright (c) 1996, Roanoke Times DATE: Tuesday, June 11, 1996 TAG: 9606110041 SECTION: BUSINESS PAGE: B-6 EDITION: METRO DATELINE: LONDON SOURCE: Associated Press
British Telecommunications PLC and U.S. partner MCI Communications said Monday they will combine their Internet networks in a deal that a source said will cost $300 million.
The companies are setting up the world's largest Internet provider, Concert InternetPlus, through their existing international joint venture, Concert.
British Telecom and MCI said Concert InternetPlus will improve Internet access for European customers, who now face many delays as their dealings on the Internet are routed through different countries, such as the United States.
``They're basically improving the infrastructure on which the Internet is offered, particularly in Europe, which will make it faster to use,'' said James Ross, who follows telecommunications companies for the investment bank ABN AMRO Hoare Govett in London.
British Telecom shares rose about 1.7 percent, closing at $5.53 on the London Stock Exchange. MCI was down 121/2 cents at $28.25 per share on the Nasdaq market Monday.
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