May 23, 1996
NYNEX CONTACT: Media Relations,
NYNEX Chairman Calls For Opening of Telecoms Markets
NEW YORK, NY -- NYNEX Chairman and CEO Ivan Seidenberg
urged business leaders and foreign diplomats to push for open
markets and increased competition around the world, so that all
nations can harness the power of communications to drive economic
"As we near the 21st century, the engine for growth in the post-industrial,
information age will be communications," Seidenberg told members of
the Business Council for the United Nations at the group's annual
symposium, the World Congress. "The explosion of information - the
linking of economies - the social benefits - all underscore the importance
of communications for developing as well as developed countries."
Seidenberg said that governments have now recognized the value of a robust
and reliable telecommunications infrastructure in supporting continued
economic growth plans.
Seidenberg cited estimates by The World Bank that it would cost $40 billion
per year over six years to narrow the telecommunications gap between industrialized
and developing nations.
"The cost is why partnerships are so crucial in today's reality - partnerships
between industry and governments - partnerships among industry players - and between
industry players," he said.
Seidenberg said the new Telecom Act has opened U.S. markets to significant new
opportunities to compete.
"For NYNEX to maximize this opportunity, the time was right to team with a strong
industry partner like Bell Atlantic. Last month, NYNEX and Bell Atlantic announced
plans for a merger, which will create the second largest telecommunications company
in the United States and one of the top five in the world.
"Companies like NYNEX and the New Bell Atlantic are eager to participate in
infrastructure growth around the world - as long as governments do their part,"
Seidenberg said current laws that limit foreign ownership and restrict foreign
participation must be changed to achieve global infrastructure growth. "Private
and public partnership will remain crucial for developing economies," he said.
"All economies should have the same opportunities to use communications to drive
New laws should encourage infrastructure growth through partnerships and joint
ventures involving foreign investment, he said.
I urge all of you to continue to work with your governments and business sectors
to push for change," said Seidenberg. "Let's work together to make sure everyone
is part of our global village."
NYNEX is a global communications and media company that provides
a full range of services in the northeastern United States and
high-growth markets around the world, including the United Kingdom,
Thailand, Gibraltar, Greece, Indonesia, the Philippines, Poland,
Slovakia and the Czech Republic.
The Corporation is a leader in the telecommunications, wireless communications,
cable television, directory publishing
and entertainment and information services.
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