Yesterday the Justic Department completed its review of the $78 billion transaction and agreed to allow it-with no strings attached, according to this NYTimes Dealbook report. The next approval waited for is from the Federal Communications Commission, which could come by Friday.
The merger is key to the ability of these two old-line telephone providers to compete with with upstart providers in the wireless, broadband, video, voice and data markets.
Not everyone is happy with how fast the merger is moving. Some consumer groups and many of the companies who use cable lines and Internet to send data and are their direct competitors, are outraged that the transaction is being pushed through without conditions or required sales of any assets.
Many still remember that both these large companies were part of the telephone monopoly that the government had to break up in 1984. They feel this move could possibly recreate a version of the old Ma Bell.
Know More about mergers at AnalyzeThisBusiness.com.
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