AT&T interested in overseas acquisitions to expand

AT&T interested in overseas acquisitions to expand

AT&T Inc.’s current Chief Operating Officer Randall Stephenson is scheduled to become the CEO of the company when Ed Whitacre retires on June 3.

He has said in a statement that they would be interested in acquiring overseas companies to boost their presence worldwide.

This comes after they failed to win control of Telecom Italia.

Chief Operating Officer Randall Stephenson added while talking at a Lehman Brothers conference: “Internationally there might be opportunistic opportunities over time that will enhance our international product set and capabilities.”

He admitted that the company already had what it needed to compete domestically. This means that they are unlikely to go for an acquisition within the United States.

Stephenson added: “I think we have the assets now that we need to compete effectively across the industry. Quite frankly, it’s about operating excellence right now more than industry-transforming transactions.”