GTE Deal In The Works

GTE Deal In The Works

Frank Lanza

L3 Communications Inc. of New York and ITT Industries Inc. of White Plains, N.Y., were working on a joint bid for GTE Government Systems Division at press time.

Under the deal, L3 would get GTE's secure communications business, and ITT would take the rest, sources said.

Formed in April 1997 when Lockheed Martin sold 10 unwanted divisions of Loral Corp., L3 is a supplier of secure communications technology, avionics, displays and telemetry, instrumentation, space and wireless products.

Officials with L3 and ITT declined to comment.

Another industry source said GTE was close to picking a single company with which to negotiate, but that no final deal is imminent.

GTE spokesman Rob Doolittle said GTE is on track to sell the $1.4 billion government unit by Sept. 30, and still hopes to find a single buyer rather than break apart the business. GTE wants to focus on core commercial telecommunications and Internet markets.

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