1.   By breaking through regulatory barriers, it is seeking to enter the local telephone business.

2.   Among those whose appointments were announced Wednesday were Francisco Gil Diaz, general director of a long-distance telephone business called Avantel, as treasury secretary.

3.   As the company enters the local telephone business, credit card records may help it identify which new customers are best to target.

4.   BellSouth has yet to disclose plans for entering the long-distance telephone business.

5.   Bell Atlantic now is positioning itself to compete for overseas telephone business of companies looking for one-stop shopping.

6.   But does that prove that the long-distance telephone business is truly competitive?

7.   But for industrial strategy, the clear victor is Mannesmann, which has been diversifying into the telephone business.

8.   But I have to tell you, this telephone solicitation business has gotten out of hand.

9.   But the deal would also help redesign the landscape of the European telephone business by affording Mannesmann a gateway to the southern European phone market.

10.   But Simone anticipates a time when on-line bets will far surpass the telephone business.