Monday, March 14, 2005

Verizon's CEO Lobbies for MCI Merger Approval

Verizon's acquisition of MCI is "the next logical step" in a changing telecommunications industry and will enable the combined company to compete for large-business, government and critical national security customers, Ivan Seidenberg, the chairman and CEO of Verizon, told the Senate Judiciary Committee.

Seidenberg argued that Verizon with MCI assures that a strong competitor remains in the marketplace, thereby enhancing competition rather than eliminating it.

Seidenberg assured lawmakers that Verizon's MCI acquisition "does not alter the dynamics that are reshaping the consumer market" and won't have any impact on the current universal service program or its funding.

"Competition from wireless, cable telephony, e-mail, instant messaging and VoIP will continue to drive pricing, with or without this transaction," he said. "The consumer marketplace will continue to become less concentrated over time -- with or without this transaction -- as new platforms vie for the broadband household."

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