Finishing Off Telecom Costs: Street Firms Seek Rate Cuts
THIS WEEK'S LEAD STORIES
Four of Wall Street's biggest firms -- First Boston Corp., Goldman Sachs & Co., Morgan Stanley & Co. and Salomon Brothers Inc. -- have collectively reached an agreement with AT&T for reduced rates on long-distance phone lines. The unusual show of Street unity paid off in the form of a Tariff 12 rate schedule from AT&T, which was recently approved by the Federal Communications Commission (FCC) and will be announced soon, according to a representative of the firms. The four-firm telecommunications
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