AT&T Looking To Expand in Europe: Report

NEW YORK ( TheStreet) - Is AT&T ( T) planning to offer its services beyond U.S. borders?

According to a story in today's Wall Street Journal, that might just be the case.

As the story goes, with the US cellular marketplace now entering the "mature" phase (which means further expansion will be at a much slower pace) AT&T is looking to buy a cellular carrier somewhere in Europe.

Although foreign investment could turn out to be a risky proposition, it could also turn out to be quite lucrative. With an ever-growing number of new small companies providing wireless services overseas, there should be a number of interesting possibilities for a European AT&T business venture. Modern 4G data networks are currently and slowly being built out across the continent.

It's not clear whether AT&T has begun talks with any company. The telecom giant's not saying. But The Journal's story names two possible targets: carrier Everything Everywhere in the UK., Royal KPN NV in Holland and unnamed companies in Germany.

--Written by Gary Krakow in New York.

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Gary Krakow is TheStreet's senior technology correspondent.