SBC/AT&T Merger Approved by New Jersey Regulators

HostReview.com
Wednesday, August 17, 2005; 02:23 PM

SBC Communications Inc. (www.sbc.com) and AT&T (www.att.com) today announced that the New Jersey Board of Public Utilities has approved the merger of the two companies, completing the regulatory review process in AT&T’s home state and advancing the companies’ goal of creating a communications provider that can effectively compete in today’s rapidly changing global marketplace.

By bringing together the companies’ complementary assets, the new company will be well-positioned to offer businesses and consumers greater choice in communications services, bring new technologies to market faster, and provide stable and secure jobs for its employees.

"All of us at AT&T want to thank the BPU commissioners and Acting Governor Codey for moving quickly on this issue which is important to our company and the state of New Jersey," said Jim Cicconi, AT&T executive vice president and general counsel.

With today’s decision, New Jersey becomes the 31st of 36 states to clear the merger, along with the District of Columbia.

“The BPU vote brings consumers and businesses across the country closer to the day when they will be able to enjoy the benefits of innovative communications services from the combined company,” said Wayne Watts, SBC senior vice president and associate general counsel.

SBC Communications Inc. is a Fortune 50 company whose subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and advertising, and related services to businesses, consumers and other telecommunications providers.