AT&T will pursue a course of cost cutting and acquiring small ISPs and voice carriers under its new CEO Michael Armstrong, who was appointed 20 October.
Currently expenses are running at about 29 per cent of revenue; Armstrong aims to reduce this to around 20 per cent, saving up to $5 billion a year, and probably reducing head count.
Among the acquisition targets are local voice and Internet carriers in the US, bringing AT&T into direct competition with the Baby Bells which have been moving into AT&T?s long-distance territory.
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