Thursday, June 01, 2006

PA PUC OKs AT&T-BellSouth merger

Central PA Business Journal:
The Pennsylvania Public Utility Commission unanimously approved the $67 billion merger of AT&T Inc. and BellSouth Corp. Under the terms of the merger, BellSouth will become a wholly owned affiliate of AT&T. The change in ownership of BellSouth will be seamless for its Pennsylvania customers, who are mainly large businesses, according to the commission. The rates, terms and conditions will remain the same. On March 31, the companies filed a joint application for approval of a merger. While the Communications Workers of America filed a petition to intervene, the union never followed up with a formal objection, according to a statement from the commission.