FCC Clears AT&T/BellSouth Deal

Law360, New York (January 1, 2007, 12:00 AM EST) -- The Federal Communications Commission has approved the merger of telecommunications companies AT&T Inc. and BellSouth Corp., removing the final obstacle standing in the way of the $86 billion deal.

The FCC gave its approval to the deal after Democratic commissioners, who had opposed the merger outright, reached a compromise with AT&T on the conditions to impose on the merger, bringing to an end a two-month-old stalemate on the issue.

As part of the agreement, AT&T has promised to divest some of its wireless spectrum holdings, and...
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