EU Commission approves AT&T-BT phone venture

Article Abstract:

British Telecommunications PLC's and AT&T's planned global phone venture has received the European Commission's approval, despite opposition from some rivals which included Cable & Wireless PLC and GTE Corp. The US Federal Communications Commission and the US Justice Department still need to approve the venture. Cable & Wireless' objections to the deal stem from its concerns that there will be a detrimental effect on competition in the UK and international markets. The UK carrier said that it plans to continue helping US regulatory authorities while they review the venture. The probe by the Europeans focused mostly upon the UK market, which BT dominates. AT&T agreed that it would get rid of its ACC U.K. long-distance phone provider as well as that it would create "greater structural separation" between itself and Telewest Communications PLC (UK). AT&T also agreed to sell its 7.5% indirect sate in Mannesmann Arcor AG (Germany).

United Kingdom, Foreign operations, Joint ventures, Telecommunications services industry, Telecommunications industry, British Telecommunications PLC, American Telephone and Telegraph Co.

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EU approves WorldCom, MCI deal

Article Abstract:

WorldCom Inc. and MCI Communications Corp.'s $37-billion union has received permission from the European Commission. The ruling, which is expected to result in a similar approval of the merger by US authorities by the end of summer 1998, gave the sale of MCI's Internet operations as the only condition for the comission's approval. The commission, which worked with the US Department of Justice in its probe, the first of its kind to focus on the Internet, said that the sale of Internet business is vital in order to allow a new player to enter the market.

Comment:

Its $37-bil union with MCI Communications Corp has received permission from the European Commission

Government regulation (cont), European Union, MCI Inc.

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EU Commission strikes deal with MCI and WorldCom on $37 billion merger

Article Abstract:

WorldCom Inc. can continue its $37-billion merger with MCI Communications Corp. after both US telecommunications giants reached a deal with the European Commission. Previously, MCI was asked by the commission to divest its entire Internet business in light of the firms' refusal to put WorldCom's UUNet subsidiary on the selling block. Sources said terms are likely to include a no-compete provision and requirement asking MCI to sell its intranet/extranet business and associated value-added services.

Comment:

Can continue its $37-bil merger w/ WorldCom after both US telecommunications giants reach deal with the European Commission

WorldCom Inc

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