Federal Communications Commission approves Bell Atlantic Corporation and Nynex Corporation merger
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Your support makes all the difference.The Federal Communications Commission yesterday approved the $25bn merger of Bell Atlantic Corporation and Nynex Corporation, sweeping away the last hurdle to the creation of the nation's second-biggest telephone company.
The FCC, as expected, attached several conditions to the deal, which will form the nation's largest local carrier and the No 2 phone company after long-distance giant AT&T Corp. The conditions are meant to ensure the two regional Bell phone companies open their 13-state market in the north-east to rivals wanting to offer local service.
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