PHILADELPHIA -- Bell Atlantic Corp. said it hired an investment banker to evaluate strategies for exiting its financial services business.

Bell Atlantic said the move was "in line with the company's previously stated intention to de-emphasize nonstrategic holdings."

"As we focus more intensely than ever on our core strategic businesses, we need to focus our financial resources, as well, on core businesses," the company said. "Current public and private market conditions are favorable for such a transaction."

Bell Atlantic also announced plans Wednesday to merge with Tele-Communications Inc. (See story on page 22.)

Bell Atlantic's financial services businesses include diversified leasing, computer leasing, and real estate companies.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.