signed an agreement to take a 25% stake in
Shanghai Symphony Telecommunications
, a new broadband services provider located in Shanghai.
AT&T said the joint venture with
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