Wednesday, October 5, 2005

Verizon-MCI Merger Approved by Shareholders

MCI shareholders voted to approve the company's acquisition by Verizon. The companies are in the process of obtaining the remaining federal, state and international approvals.

The companies expect final closure of the transaction in late 2005 or early 2006.

"Today's vote brings us an important step closer to completing the MCI transaction," said Verizon Chairman and CEO Ivan Seidenberg. "We look forward to creating a company that is better able to compete in today's large-business and government marketplace, invest in critical infrastructure and offer the nation's most advanced broadband platform with next-generation multimedia services."