Healthy network effects; Telecoms mergers.
Economist (US), The, May, 2005
America's telecoms sector is consolidating, but that is good, not bad, for competition
IT LOOKS suspiciously like a return to the past. In 1984 a federal judge ordered the break-up of AT&T, America's telephone monopoly, on antitrust grounds to inject some sorely needed competition into the country's telecoms industry. "Ma Bell", as AT&T was affectionately known, was split into a group of regional local phone firms and a long-distance company, which retained the AT&T name. In recent years, a wave of mergers seem to have reversed that break-up. This week MCI, the former bankrupt WorldCom, accepted an $8.5 billion takeover bid from Verizon, a former "Baby Bell" spun out of AT&T all those years ago. Verizon won control of MCI only after a long and controversial...
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