MCI, Inc.; Verizon Communications Inc.
European Commission Approves Verizon-MCI Merger
New York and Ashburn, Virginia (ots/PRNewswire)
- Decision Represents Significant Milestone in Approval Process
The European Commission today announced approval of the Verizon-MCI merger application. The following statement can be attributed to Verizon and MCI:
"The European Commission's decision to approve the Verizon-MCI transaction is another significant milestone in the merger review process. Both companies appreciate the professionalism and courtesy of the Commission staff in their thorough review.
"The transaction remains on track to close by this year or early next year. We look forward to delivering the benefits of this transaction to the European business community as a combined company."
With more than US$71 billion in annual revenues, Verizon Communications Inc. (NYSE: VZ) is one of the world's leading providers of communications services. Verizon has a diverse work force of more than 214,000 in four business units: Domestic Telecom provides customers based in 28 states with wireline and other telecommunications services, including broadband. Verizon Wireless owns and operates the nation's most reliable wireless network, serving 47.4 million voice and data customers across the United States. Information Services operates directory publishing businesses and provides electronic commerce services. International includes wireline and wireless operations and investments, primarily in the Americas and Europe. For more information, visit http://www.verizon.com.
MCI, Inc. (Nasdaq: MCIP) is a leading global communications provider, delivering innovative, cost-effective, advanced communications connectivity to businesses, governments and consumers. With one of the most expansive global IP backbones and wholly-owned data networks, MCI develops the converged communications products and services that are the foundation for commerce and communications in today's market. For more information, go to http://www.mci.com.
VERIZON'S ONLINE NEWS CENTER: Verizon news releases, executive speeches and biographies, media contacts, high quality video and images, and other information are available at Verizon's News Center on the World Wide Web at http://www.verizon.com/news. To receive news releases by e-mail, visit the News Center and register for customized automatic delivery of Verizon news releases.
NOTE: This press release contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The following important factors could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: a significant change in the timing of, or the imposition of any government conditions to, the closing of the transaction; actual and contingent liabilities; and the extent and timing of our ability to obtain revenue enhancements and cost savings following the transaction. Additional factors that may affect the future results of Verizon and MCI are set forth in their respective filings with the Securities and Exchange Commission, which are available at investor.verizon.com/SEC/ and http://www.mci.com/about/investor_relations/sec/.
Web site: http://www.mci.com http://www.verizon.com
Contact:
David Fish of Verizon Communications, +1-202-515-2514,
david.m.fish@verizon.com; or Peter Lucht of MCI, +1-800-644-NEWS,
peter.lucht@mci.com