According to a report from the Wall Street Journal, AT&T CEO Randall Stephenson announced that the company is aggressively looking overseas, especially in emerging markets like India, for its next acquisition targets. Demand for wireless services in India, China, Vietnam, Saudi Arabia, Dubai, Qatar and Kuwait is increasing as multinational corporations stationed there need advanced data and voice services, and some regulatory environments begin to welcome foreign investors.
Shortly after taking over as the CEO of the company, Stephenson traveled to India to lobby the government to let AT&T bid on upcoming 3G wireless spectrum. "I need multibillion-dollar revenue streams to move the needle, and I view this as a multibillion-dollar revenue opportunity," Stephenson told the WSJ. "Everything is here for us to do well."
The news follows speculation that Verizon Wireless was forming a joint venture with a new Indian wireless carrier, Videocon.