FCC GREEN LIGHTS $50 BILLION MERGER OF TELECOMMUNICATIONS FIRMS QWEST AND US WEST
The Associated Press reports that federal regulators have conditionally approved the $50 billion merger of Qwest Communications Inc. and regional Bell company U S West Inc. Qwest will have to divest itself of its customers in the U S West territory of 14 western states. The announcement comes after German telephone company Deutsche Telekom AG abruptly ended talks to acquire the two Denver-based telecommunications companies. The Federal Communications Commission (FCC), which granted conditional approval for the deal by a 5-0 vote, says Qwest must give up about 6 percent of its long-distance customers, all of whom live in areas served by U S West.
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