Williams Communications Inc. (Tulsa, OK) has formed an alliance with SBC Communications (San Antonio, TX) under which Williams becomes the preferred provider of nationwide long-distance voice and data services, along with technical support, for SBC. In return, SBC becomes a key provider of platform products, certain international services, and technical support for Williams. As part of the new relationship, SBC plans to acquire up to 10% of the common stock of Williams Communications Group Inc. SBC`s initial investment will be limited to $500 million, which will be reinvested by Williams in its business. Almost immediately after announcing its alliance with SBC, Williams announced a $4.7-billion expanded and accelerated construction plan that nearly doubles its original $2.7-billion financial commitment to finishing its network. Williams simultaneously announced its new targeted network completion date of 2000, nearly a year ahead of schedule.
Williams Communications Inc. (Tulsa, OK) has formed an alliance with SBC Communications (San
May 1st, 1999