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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: December 13, 1994
AT&T Corp.
A New York Commission File I.R.S. Employer
Corporation No. 1-1105 No. 13-4924710
32 Avenue of the Americas, New York, New York 10013-2412
Telephone Number (212) 387-5400
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Form 8-K
December 13, 1994
Item 5. Other Events
On December 13, 1994, AT&T Corp. ("AT&T") and Unisource N.V.
("Unisource") announced a new company that will combine their data and
business voice services in Europe. With a primary focus on providing
communications services to multinational companies in Europe, the new
company will offer customers improved access to North America and the Asia/
Pacific regions.
Subject to regulatory approval by the European Union Authorities, the
joint venture is expected to be fully operational by mid-1995. Some
services are already available now as a result of the companies' earlier
cooperation on closed user-group voice services, and in the WorldPartners
Association.
Under the terms of an agreement in principle, Unisource will own 60
percent of the joint venture and AT&T will own 40 percent. The new company
will have assets of approximately $200 million, and more than 2,000
employees, at the outset. It will have more than 300 of the world's
leading multinational companies as customers.
Unisource is a consortium of Dutch, Swiss and Swedish telephone
authorities; Spain's Telefonica is in the process of joining Unisource as a
fourth and equal shareholder. Unisource will merge its business networks,
satellite and voice services divisions with the AT&T Business
Communications Services Europe and AT&T EasyLink* Services groups in
creating the joint venture. Employees in 17 countries will join the new
company, including a significant number of employees from Spain's
Telefonica.
Unisource and AT&T have been working together in Europe since April
1994 when a joint bid by the two companies was selected for provisioning of
voice services to the European Virtual Private Network Users Association
("EVUA"), a group consisting of approximately 30 of Europe's leading
multinational companies.
*Registered trademark of AT&T.
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Form 8-K
December 13, 1994
In September 1994, Unisource joined the WorldPartners Company as an
equity owner and joined the WorldPartners Association as the member for
Europe. WorldPartners Company was formed in 1993 by AT&T, Kokusai Denshin
Denwa Co. Ltd of Japan and Singapore Telecom to support the provision of
high quality advanced telecommunications services by WorldPartners
Association members to multinational business customers marketed under the
name "WorldSource".* WorldPartners has recruited to date nine
telecommunications services providers as members of the WorldPartners
Association, the consortium of companies offering WorldSource services,
covering twenty-four countries in North America, Europe, and Asia. The new
company formed by AT&T and Unisource will become, in place of Unisource, a
WorldPartners equity owner and the WorldPartners Association member for
Europe. Competition for WorldPartners to service the communications needs
of multinational corporations is significant, consisting often of local
national telephone authorities as well as consortia formed between MCI
Communications Corp. and British Telecommunications plc and, pending
regulatory approval, among Sprint Corporation and France Telecom and
Deutsche Telekom.
*Registered servicemark of AT&T.
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Form 8-K
December 13, 1994 AT&T Corp.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
AT&T Corp.
By: S.L. Prendergast
Vice President and Treasurer
December 20, 1994
