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AT&T talking with BT again

AT&T is once again in talks with British Telecommunications Group about a possible merger between the two companies' business-services units, and is exploring combining its consumer long-distance business with its cable TV operations, The Wall Street Journal reports.

Some industry observers expect the cable unit to be bought by another cable company once AT&T registers the shares for sale in a public offering later this year, the Journal further reports.

One aspect of AT&T's initial plan that appears to remain on track: the spinoff of the wireless arm, AT&T Wireless Group, sometime next month. The unit will become an independent company with its own common stock; it currently trades as a tracking stock.