FCC to Approve AT&T-BellSouth Merger
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The Federal Communications Commission is slated to approve the $67 billion purchase of BellSouth by telecom giant AT&T, formerly known as SBC. Shareholders approved the merger in July and expected government regulators to demand the combined company shed some assets.
According to a memo distributed late Thursday, however, the FCC is set to give the green light to the deal without any conditions, press reports indicated. The official vote will take place on October 12. The U.S. Department of Justice has yet to give its blessing, due to the agency being sidetracked by court challenges of the mega-mergers between SBC and AT&T, as well as Verizon and MCI.