December 30, 1996
CONTACT: Susan Kraus, 212-395-0500
NYNEX Merger With Bell Atlantic
Approved By Maine Public Utilities
PORTLAND, ME -- The Maine Public Utilities Commission
today approved the merger of NYNEX and Bell Atlantic.
Today's action means that now four of the seven NYNEX
states have either approved the merger or have not sought
jurisdiction over it.
Ivan Seidenberg, NYNEX chairman and CEO, said, "We
are pleased that the Maine PUC approved our proposed merger
with Bell Atlantic, and that they recognize the substantial
benefits of this merger to our Maine customers."
The proposed merger was announced on April 22.
Shareowners of both companies overwhelmingly approved the
merger at special meetings in early November. The combined
corporation will serve 39 million telephone access lines in
13 states and more than 4 million cellular customers.
Wayne Budd, NYNEX senior vice president in New
England, said, "I am delighted with today's decision. With
approvals now in place in both Maine and Connecticut, I look
forward to positive responses to the proposed merger from
the remaining states in the NYNEX region."
Regulators in New Hampshire, New York and Vermont are
now conducting reviews of the merger in accordance with
applicable state laws. Massachusetts and Rhode Island have
not sought to assert jurisdiction over the proposed merger,
although Massachusetts is reviewing the merger within the
context of its general supervisory authority over telephone
Reviews by all states are expected to be complete by
early next year, and the companies expect to close the
merger in the first quarter.
NYNEX is a global communications and media company
that provides a full range of services in the northeastern
United States and high-growth markets around the world,
including the United Kingdom, Thailand, Gibraltar, Greece,
Indonesia, the Philippines, Poland, Slovakia and the Czech
The Corporation is a leader in the
telecommunications, wireless communications, cable
television, directory publishing and entertainment and
FAX copies of recent NYNEX news releases are
available free of charge, 24 hours a day. Call
1-800-331-1214 and an automated system will provide