ABSTRACT
In January 2003, Lex in the Financial Times^ commented that 'AT&T should be renamed AT&rTroubled. The capacity of the telecommunications giant to disappoint already modest expectations is a marvel to behold.' As we know from fairy stories and the Bible, giants can be cut down to size readily enough, but when it comes to telecoms, especially in the USA, the possibility that AT&T might actually be broken up and its various pieces taken over by much less well-known brands would come as a considerable surprise to the general public. The purpose of this case study is to analyse how this possibility has come about.
