AT&Tpaid some $15 billion in tribute last year to local phone companies—"access" fees for completion of the last mile in a long distance call. Desperate to escape the burden, it is undertaking some expensive run-arounds. It is planning to pay $49 billion (including assumed debt) to acquire Tele-Communications, Inc., which would give it broadband access to 12.5 million homes. AT&T also spent $11 billion last June on Teleport Communications Group, a local loop end run used by large business customers. And it spent $1 billion in a foiled attempt to resell local service.
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