ITT TO ACQUIRE AMERICAN NETWORK

Having ceded control of most of its telecommunications interests to CGE in the new Alcatel NV venture, ITT Corp is discussing the acquisition of American Network Inc, a Vancouver, Washington telephone service operator, for a tentative 80 cents a share, about $18.5m.

Having ceded control of most of its telecommunications interests to CGE in the new Alcatel NV venture, ITT Corp is discussing the acquisition of American Network Inc, a Vancouver, Washington telephone service operator, for a tentative 80 cents a share, about $18.5m.