SBC Communications Inc. and AT&T today announced that the Federal Communications Commission (FCC) in the U.S. has ...
October 31, 2005
SBC Communications Inc. and AT&T today announced that the Federal Communications Commission (FCC) in the U.S. has approved the merger of the two companies.
The commission decision follows clearance last week by the U.S. Department of Justice.
In its approval order, the commission set out limited conditions that will still allow the combined company to realize the benefits of the merger by competing aggressively for consumer and business customers on a regional, national and international scale.
“The commission vote demonstrates a recognition that the merger of SBC and AT&T will enhance competition, help bring new technologies to market faster, and provide real benefits to consumers and businesses,” said Edward E. Whitacre Jr., SBC chairman and chief executive officer.
David Dorman, chairman and CEO of AT&T, said the decision “brings us one step closer” to a new era in communications, information services and entertainment.
Last week, SBC announced it would adopt AT&T Inc., as its name following completion of the acquisition.
The companies expect the merger to close later this year.