Concert, the joint venture between AT&T Corp. and British
Telecommunications plc, is officially no more.
On Oct. 16, AT&T and BT decided to close the curtain on their
money-losing joint venture, citing market conditions.
Customers, businesses and networks associated with Concert have been returned
to their relevant parent companies.
To honor commitments made to customers using existing services, AT&T and
BT have entered into commercial interworking agreements.
After posting a profit its first year, the joint venture, formed in 1998, has
been performing below par for several quarters now. BT said it lost $118 million
during the quarter ended June 30, 2001.