US regulators approve ATT–BellSouth mega–merger

0 Comments | AFP, December, 2006

WASHINGTON (AFP) — US regulators gave final approval Friday to AT and T's takeover of rival BellSouth, the biggest telecommunications merger in US history, saying it will lead to "significant public interest benefits." The companies immediately said they had finalized the deal that establishes "a premier global communications company committed to driving convergence, continued innovation, and competition in the communications and entertainment market." The newly enlarged AT and T "will be an engine for innovation, competition, and growth for our customers at home and abroad," said AT and T chairman and chief executive Edward Whitacre.

The Federal Communications Commission gave its approval to the deal after the companies agreed to major concessions to break a deadlock. The...