America's No. 1 financial conglomerate

Chapter 364 The Second Ally.

"So we're going to AT&T now?" Ivan Setonberg asked.

Ernst gave a reassuring look, a confident smile playing on his lips. "Why not go?"

Ivan couldn't help but ask again, "But do we have an appointment?"

Ernst turned to Ivan and burst into laughter, a hint of mockery in his voice. "Do you think I need an appointment?"

His expression made it seem as if he owned the entire AT&T company.

Upon hearing this, Ivan could only silently admit to himself that he had asked a very stupid question.

For others, the Telephone and Telegraph Corporation is a household name, a super giant in the American communications industry with a glorious history that is unmatched.

They were the ones who created the first telephone line that ran between the east and west coasts of the United States. That truly pioneered the history of communications, allowing people on the east and west coasts to communicate instantly.

The first transatlantic intercontinental route also led to an influx of European talent into America, laying the foundation for the country's current superpower status.

Countless miracles and glories in the history of telephone communication are closely related to this company, not to mention the world-famous Bell Labs, which is the cradle of countless technological innovations and has given birth to countless inventions and technologies that have changed the world.

This company, Jianzhen, is a living fossil in the history of human communication, a walking textbook of communication history.

For people like Ivan, AT&T was so unattainable, like a distant dream, something they could only admire from afar.

But for his new boss, it was a completely different story.

As he said, is an appointment necessary?

His name and his face alone are resounding brands.

Just as Ivan had expected, when Ernst swaggered into the front desk of the Telephone & Telegraph Corporation, the young receptionist was completely stunned when she saw his face, which she had only ever seen on television and in newspapers. Her eyes widened and her mouth almost gaped open, as if she had seen an alien.

That expression seemed to say, "Is this real? Am I dreaming?"

Is this Cinderella story coming to life? Will this American tycoon kneel down and propose to me?

Ernst smiled politely. "Could you please inform them that I'm going to pay a visit to President Armstrong?"

The receptionist suddenly realized what was happening, but her first instinctive remark embarrassed Ernst.

All I heard her ask blankly was, "Do you have an appointment?"

Ivan, who was standing next to him, almost burst out laughing. He was acting all high and mighty in the car just now, but now he's been slapped in the face, hasn't he?

The receptionist immediately realized she had misspoke and blushed. Someone like Ernst should have been notified by calling the president's secretariat even without an appointment.

It was a member of the management team who happened to be coming downstairs who saw the scene and quickly came over to ease the awkwardness.

"Mr. Garfield? I didn't expect you to come to AT&T. Let me take you to the lounge."

After saying that, he gave the receptionist a wink, signaling her to report it immediately.

Before Ernst could even enter the lounge, the elevator stopped at his floor and the doors opened. A woman was standing there. She greeted him with a smile and then took over the job of the person who had brought Ernst up.

"Mr. Garfield, the president asked me to wait here and take you to his office."

All I can say is that the telephone and telegraph company showed this super-rich American a great deal of respect.

When the secretary opened the door to the president's office for him, Ernst immediately saw several men sitting inside.

Besides Michael Armstrong, the CEO of Telephone & Telegraph Corporation, there were several other executives within the group who were powerful figures in the American telecommunications industry, capable of shaking the entire industry with a single stomp of their feet.

Michael gave Ernst a brief introduction to everyone present. As is customary, Ernst should also introduce Ivan Setonberg's identity.

Ernst, however, made no mention of it, as if Ivan did not exist.

This was an impolite gesture. Michael and the group's senior executives exchanged glances, and the initial enthusiasm on Michael's face had vanished, replaced by a hint of doubt and dissatisfaction in his eyes.

"Ernst, you don't mind me calling you that, do you?" Michael said with a smile. This was both a way to get closer to him and a way to test Ernst's attitude today.

"Of course, that's what my friends call me," Ernst replied with a smile, a smile that remained as confident and composed as ever.

Hearing Ernst say this, the expressions on their faces improved slightly.

At least for now, the other party's visit seems friendly, but it's unclear what their purpose was in calling the Telegraph Corporation.

"I wonder what brings you here today? If there's anything you need help with, just say so. Telephone and Telegraph will do everything in its power to support you, a leader of the younger generation of Americans," Michael said enthusiastically.

Ernst looked at the other person and asked with a smile, "I'd like to know if it's true that Telephone & Telegraph Corporation is acquiring TCI."

After saying that, he picked up his coffee cup, took a small sip, and completely ignored the fact that everyone at the Telephone & Telegraph Corporation, including Michael Armstrong, had changed their expressions drastically.

TCI, short for Remote Broadcasting, is an American cable television service provider.

Founded in Bozeman, Montana in 1958, the company went public in the 1970s and grew rapidly, becoming one of the top cable television providers in the United States.

Entering the 80s, TCI expanded its scale through a series of mergers and acquisitions, and is now the largest media company in the United States with a market value of over $450 billion, making it a true behemoth.

"How did you know?" Michael's expression was serious, his previous relaxed demeanor gone, replaced by a hint of wariness and doubt in his eyes.

The acquisition of TCI by AT&T Group has profound strategic significance. They hope to transform AT&T from a company primarily engaged in long-distance telephone business into an enterprise involved in various information technologies such as voice, data, and video through this acquisition.

If the acquisition is successful, AT&T will become the largest broadband cable television company in the United States, with more than 1500 million network subscribers.

The problem is, this acquisition was carried out in secret, without any outside reports. How did Ernst know about it?

This surprised and confused Michael greatly.

"I have my own channels. I just want to know whether Telephone and Telegraph is acquiring TCI. That's the purpose of my visit."

Seeing that Ernst did not want to answer, Michael Armstrong did not press him further.

After all, the acquisition of Remote Broadcasting by Telephone and Telegraph Corporation is basically finalized, and if nothing unexpected happens, the news will be announced next month.

Therefore, even if the information is leaked, it will not have any substantial impact on either party.

"That's right, Telephone and Telegraph Corporation is indeed acquiring TCI, and an agreement is imminent."

That's enough. Ernst doesn't care about the purpose of TT Group's acquisition of TCI; what he wants to know is Michael's determination to transform TT Group.

In January, Telephone and Telegraph Corporation (TT) spent $113 billion to acquire TCG, the largest competitive local access service provider in the United States, and now it is going to spend even more money to acquire TCI.

Although the exact price is unknown, its value is certainly over $460 billion.

In just six months, they spent nearly $60 billion, which is an astronomical figure, demonstrating the Telephone and Telegraph Corporation's strong determination to expand its business.

It seems they also know that after Lucent was spun off, relying solely on long-distance telephone business was becoming increasingly unsustainable, and they had to make changes, otherwise they would be eliminated by the market.

"Let me formally introduce myself." Ernst put down his coffee cup and said to Ivan beside him, "Ivan Setonberg is the CEO of my newly established company, Continental Telecom."

This time, the men's expressions became even more grim, even more so than when they heard him mention the Telephone and Telegraph Group's acquisition of TCI.

As if they had heard some bad news, everyone's face showed worry and dissatisfaction.