Japan breaks up a monopoly

In the U.S., Britain and now Japan, 1984 has been the twilight year for telephone giants. First, on New Year's Day the breakup of American Telephone & Telegraph became effective. Then, in early December, Britain sold majority control of the government-owned British Telecom to private investors in the largest stock sale ever. Last week the Japanese Diet joined the trend. It voted to end the state monopoly of Nippon Telegraph and Telephone (fiscal 1983 sales: $18.4 billion), the country's phone company. Beginning in April the government will offer...

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