NEW YORK and ASHBURN, Va. - 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 $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 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 www.mci.com.