European Commission Approves Verizon-MCI Merger
October 07 2005 - 12:05PM
PR Newswire (US)
Decision Represents Significant Milestone in Approval Process NEW
YORK and ASHBURN, Va., Oct. 7 /PRNewswire-FirstCall/ -- The
European Commission today announced approval of the Verizon-MCI
merger application. The following statement can be attributed to
Verizon and MCI: "The European Commission's decision to approve the
Verizon-MCI transaction is another significant milestone in the
merger review process. Both companies appreciate the
professionalism and courtesy of the Commission staff in their
thorough review. "The transaction remains on track to close by this
year or early next year. We look forward to delivering the benefits
of this transaction to the European business community as a
combined company." With more than $71 billion in annual revenues,
Verizon Communications Inc. (NYSE:VZ) is one of the world's leading
providers of communications services. Verizon has a diverse work
force of more than 214,000 in four business units: Domestic Telecom
provides customers based in 28 states with wireline and other
telecommunications services, including broadband. Verizon Wireless
owns and operates the nation's most reliable wireless network,
serving 47.4 million voice and data customers across the United
States. Information Services operates directory publishing
businesses and provides electronic commerce services. International
includes wireline and wireless operations and investments,
primarily in the Americas and Europe. For more information, visit
http://www.verizon.com/. MCI, Inc. (NASDAQ:MCIP) is a leading
global communications provider, delivering innovative,
cost-effective, advanced communications connectivity to businesses,
governments and consumers. With one of the most expansive global IP
backbones and wholly-owned data networks, MCI develops the
converged communications products and services that are the
foundation for commerce and communications in today's market. For
more information, go to http://www.mci.com/. VERIZON'S ONLINE NEWS
CENTER: Verizon news releases, executive speeches and biographies,
media contacts, high quality video and images, and other
information are available at Verizon's News Center on the World
Wide Web at http://www.verizon.com/news. To receive news releases
by e-mail, visit the News Center and register for customized
automatic delivery of Verizon news releases. NOTE: This press
release contains statements about expected future events and
financial results that are forward-looking and subject to risks and
uncertainties. For those statements, we claim the protection of the
safe harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. The following important
factors could affect future results and could cause those results
to differ materially from those expressed in the forward-looking
statements: a significant change in the timing of, or the
imposition of any government conditions to, the closing of the
transaction; actual and contingent liabilities; and the extent and
timing of our ability to obtain revenue enhancements and cost
savings following the transaction. Additional factors that may
affect the future results of Verizon and MCI are set forth in their
respective filings with the Securities and Exchange Commission,
which are available at investor.verizon.com/SEC/ and
http://www.mci.com/about/investor_relations/sec/. DATASOURCE: MCI,
Inc.; Verizon Communications Inc. CONTACT: David Fish of Verizon
Communications, +1-202-515-2514, ; or Peter Lucht of MCI,
+1-800-644-NEWS, Web site: http://www.mci.com/
http://www.verizon.com/
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