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AT&T Joins Broadband Venture in China

Author:

AT&T

(T) - Get Report

signed an agreement to take a 25% stake in

Shanghai Symphony Telecommunications

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, a new broadband services provider located in Shanghai.

AT&T said the joint venture with

Shanghai Telecom

and

Shanghai Information Investment

expects to launch services in mid-2001. Shanghai Telecom will supply dark fiber to the venture, which will implement fiber-optic rings with high-speed routers and switches and provide access fiber directly to customer buildings. Shanghai Telecom will own 60% of the joint venture and Shanghai Information will own 15%.

Shares of AT&T were recently up 2.2%, or 44 cents, to $20.19 in

New York Stock Exchange composite

trading.