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Gov't Approves Two Huge Telecom Mergers

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Gov't Approves Two Huge Telecom Mergers

Old 10-27-05, 03:03 PM
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Gov't Approves Two Huge Telecom Mergers

WASHINGTON (AP) -- Federal antitrust regulators on Thursday approved the multibillion-dollar mergers of SBC Communications Inc. and AT&T, and of Verizon Communications Inc. and MCI Inc.
The Justice Department attached some conditions to the mergers, requiring Verizon and SBC to divest some local fiber-optic network facilities in 19 metropolitan areas.

Without the condition, the mergers would have resulted in higher prices for certain customers in eight metropolitan areas in Verizon's territory and 11 metropolitan areas in SBC's area, the Justice Department said in announcing approval.

The Federal Communications Commission still must sign off on the deals. The agency's scheduled to vote on the mergers Friday at its monthly public meeting, though the decision could slip to next week.

The storied AT&T name will live on after the $16 billion merger. SBC announced Thursday it is renaming itself and most of its products under the 120-year-old brand.

Verizon plans to keep its corporate name after the $8.5 billion with MCI.

SBC and Verizon already are the largest regional phone companies, and AT&T and MCI dominate the market for business customers. The mergers would enhance the base of business customers for Verizon and SBC and expand their national and international presence.

Critics say the mergers will lead to fewer choices for consumers and higher prices, a claim both SBC and Verizon dispute.
Old 10-27-05, 03:07 PM
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Odd I haven't heard anything since I'm down in Austin this week working at SBC's lab.
Old 10-27-05, 03:20 PM
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My local phone is through SBC and my cellphone company is Verizon. I don't think I like this very much.
Old 10-27-05, 03:20 PM
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don't know why it took so damn long. guess some lawyers needed to justify their existence.

guess they didn't know that landlines aren't the hottest new thing out there.
Old 10-27-05, 03:21 PM
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Funny after all these years the name goes back to ATT for local and long distance.
Old 10-27-05, 03:28 PM
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I work for a small telecom that will probably die off in a few years, but that is the nature of the business. telecom is a business only for big companies with deep pockets for huge capital projects.

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