Telecom Mergers Approved
As noted at the Antitrust & Competition Policy Blog, late last week, Judge Sullivan approved SBC’s acquisition of AT&T and Verizon’s acquisition of MCI. Reuters reports:
Sullivan said opponents of the takeovers had raised some valid concerns. He said new competitors that leased phone lines from AT&T and Verizon “may not be able to fully replace AT&T or MCI in the competitive landscape because their networks may not be as extensive.” But the judge said the law required him to give deference to the Justice Department. And he said he could not reject the settlements “merely because the government failed to address antitrust issues not raised in its complaints.” “While these shortcomings could reduce the effectiveness of the proposed settlements, they do not completely undermine the settlements,” Sullivan wrote in his opinion.
The opinion is available here and DOJ’s statement is here. Previous Antitrust Review coverage of this case is available here, here, here, here and here.
RSS Feed
