Antitrust NewsWatch: FCC approves Verizon acquisition of MCI and SBC acquisition of AT&T | Hearsay.com

Tuesday, November 01, 2005

FCC approves Verizon acquisition of MCI and SBC acquisition of AT&T | Hearsay.com

WASHINGTON - The Federal Communications Commission (FCC) approved, with minor conditions, SBC Communications' $16 billion purchase of AT&T Corp., and Verizon Communications' $8.44 billion takeover of MCI Inc. The conditions are intended to prevent the merged companies from raising rates or denying customers Internet access. The FCC voted 4-0 to sign off on the deals, with Chairman Kevin Martin saying the combined entities will 'create strong global carriers that will vigorously compete both internationally and domestically.' The deals are expected to be completed by year's end.
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