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Short Take: Vermont OKs Bell Atlantic, GTE merger

Vermont regulators today gave a green light to the pending merger between Bell Atlantic and GTE. The companies' plans have run into some problems in other states such as Pennsylvania, however. The big prize--federal approval by the Federal Communications Commission--is still far away, however. The companies have put their FCC application on hold while Bell Atlantic seeks approval to enter the long distance business in New York, an issue that will eventually affect the merger.

Vermont regulators today gave a green light to the pending merger between Bell Atlantic and GTE. The companies' plans have run into some problems in other states such as Pennsylvania, however. The big prize--federal approval by the Federal Communications Commission--is still far away, however. The companies have put their FCC application on hold while Bell Atlantic seeks approval to enter the long distance business in New York, an issue that will eventually affect the merger.