Business Services Industry
GTE Sells 7 Percent of Local Phone Lines.
Knight Ridder/Tribune Business News, November, 1998 by Couch, Mark P.
Knight Ridder/Tribune Business News
Nov. 6--GTE Corp. said it is selling 1.6 million, or 7 percent, of its local telephone lines as part of its plan to raise at least $2 billion to invest in faster-growing businesses.
The lines that are for sale are scattered across the country, but most of them are concentrated in the Midwest.
In Texas, GTE is selling 297,300 lines in 196 communities, most of them in West Texas. GTE has 1.8 million lines in more than 500 cities and towns in the state.
The Texas towns include Blackwell, Hubbard, Leona, Miami, Post, Shallowater, Throckmorton, Uncertain, White Deer and Zavalla.
"This is a move to help us tighten up our footprint so that we won't be spread as thin with our resources," said GTE...
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