SBC, AT&T pass final merger hurdle
- By Michael Hardy
- Nov 18, 2005
California regulators have approved the merger of telecommunications companies SBC and AT&T. This was the final formal approval the two companies needed to move ahead with the planned transaction.
SBC has now formally closed its acquisition of AT&T. The new organization bears AT&T’s name and the two companies will begin integrating their operations.
Verizon and MCI are also in the process of merging, meaning that four powerful companies will be cut to two in the telecom market. The Justice Department and the Federal Communications Commission have approved the mergers, and the companies have been going state by state to get more localized clearance.