Short Take: SBC acquires Baby Bell
The Justice Department is allowing regional Bell SBC Communications to acquire another Baby Bell, Pacific Telesis. The department "concluded that the merger did not violate the antitrust laws." On April 1, SBC bid $16.5 billion for Pac Tel, a merger that would create a company valued at $46.5 billion. The agency is also allowing US West to acquire Continental Cablevision as long as Continental's interest in Teleport Communications Group, which offers telecommunications services to businesses, is divested.
The Justice Department is allowing regional Bell to acquire another Baby Bell, Pacific Telesis. The department "concluded that the merger did not violate the antitrust laws." On April 1, SBC bid $16.5 billion for Pac Tel, a merger that would create a company valued at $46.5 billion. The agency is also allowing US West to acquire Continental Cablevision as long as Continental's interest in Teleport Communications Group, which offers telecommunications services to businesses, is divested.