AT&T, BT Joint Venture Clears US Hurdle
LONDON, UK, June 30 -- British Telecommunications PLC and AT&T Corp. have obtained US antitrust clearance for their $10 billion global joint venture. This is a major milestone, a BT spokesman said. We've said all along that we expect the approval process to be completed by the autumn, and we're on track for that still. The final remaining regulatory hurdle for the venture is approval from the US Federal Communications Commission (FCC).
Regulators had been expected to clear the deal after the European Commission approved the venture in March contingent upon AT&T selling its British long-distance unit, ACC UK. The 50/50 joint venture, initiated last July, will enable the two companies to offer combined voice, data and Internet services to the lucrative multinational business telecommunications market.
LATEST NEWS
- Polar Light, Finetech Partner on MicroLED Tech for Advanced Applications
Oct 2, 2024
- TOPTICA Photonics Appoints Two to C-Suite Positions: People in the News: 10/2/24
Oct 2, 2024
- European Initiative's Quantum Sensors Aim to Deliver Climate Insights
Oct 1, 2024
- IonQ Awarded $54.5M Contract with U.S. Air Force Research Lab
Oct 1, 2024
- ZEISS Plans for 2025 CEO Transition
Sep 30, 2024
- SPIE Industry Summit Spotlights Policy Priorities, Business Development
Sep 30, 2024
- $13.5M Photoacoustic Imaging Project to Improve Lung Cancer Diagnostics
Sep 30, 2024
- NASA’s Terabyte Infrared Laser Demo Completes Mission
Sep 30, 2024