Friday, November 17, 2006

at&t-BST merger delayed

Forbes writes about the delayed re-creation of Ma Bell: "Three FCC delays later, it's a guessing game when it will be approved and under what conditions. The two companies said they are confident the deal will close before deadlines imposed by the agreement....The agreement says the deal can be terminated at any time by mutual consent of the companies' boards of directors. It also says that one side can pull out if the deal does not close by March 6, subject to a $1.7 billion termination fee. That deadline could be extended until Sept. 6, at which time the deal is terminated if it hasn't closed." Ouch! Those telcos and their termination charges! :)

This was surprising: "the deal, now valued at $79.9 billion excluding $22 billion in BellSouth debt AT&T plans to assume". $22B in debt?!

The next FCC Meeting is set for Dec. 14.

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