In a rare and unusually candid public speech, former Citigroup Inc. co-chief executive officer John S. Reed said that before he had agreed to merge Citicorp with Travelers Group he seriously considered a merger with AT&T Corp.

When he placed a call to Robert E. Allen, the CEO of AT&T in the mid-1990s, "I always had the idea that a network supplier and a content provider would be a good combination," Mr. Reed said.

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.