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FCC Approves Verizon-MCI, SBC-AT&T Mergers

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WASHINGTON, Oct. 31 -- The Federal Communications Commission today approved Verizon Communications Inc. and SBC Communications Inc.'s planned acquisitions of MCI and AT&T, respectively, giving the companies the final federal approval they need to complete their multibillion-dollar takeovers of the telecommunications giants. Verizon's $8.6 billion purchase of MCI Inc. and SBC's $16 billion buyout of AT&T Corp will give New York-based Verizon and San Antonio-based SBC control of the two biggest long-distance providers in the country. The FCC did attach some conditions to the mergers,...Read full article

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