Wednesday, October 11, 2006

AT&T-BellSouth Deal Delayed as FCC Postpones Vote

Molly Peterson writes for Bloomberg News:

AT&T Inc.'s $79 billion purchase of BellSouth Corp. hit a regulatory snag as the U.S. Federal Communications Commission postponed a vote on the deal scheduled for tomorrow.

The FCC will hold a hearing on the merger a day later on Oct. 13, the agency said today in an e-mailed statement.

The delay may signal Chairman Kevin Martin and fellow Republican Commissioner Deborah Tate need to make concessions to Democrat members Michael Copps and Jonathan Adelstein to get the deal approved. Both criticized today's backing of the purchase by the Justice Department. The fifth commissioner, Republican Robert McDowell, recused himself from the vote.

More here.


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