NYNEX Accepts New York Regulators' Conditions On Pending Merger With Bell Atlantic
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March 31, 1997
CONTACT: Susan Kraus, 212-3953-0500
NYNEX Accepts New York Regulators' Conditions On
Pending Merger With Bell Atlantic
NEW YORK CITY (March 31, 1997) -- NYNEX today accepted conditions
that the New York State Public Service Commission placed on its approval
of the company's pending merger with Bell Atlantic.
In a letter to the commission, the company said, "We look forward
to bringing to New York State and its residents the many benefits of the
merger, and we expect the merger will strengthen New York State's position
as the telecommunications capital of the world."
Don Reed, NYNEX president, said, "Accepting the PSC's proposal
is the most expeditious way to bring the benefits of our merger to customers.
Over the past 10 days, we have carefully reviewed the PSC's conditions
and find them generally in line with conditional approvals granted by other
commissions in NYNEX states.
"We share the PSC's commitment to economic development and
to the promotion of the very best in telecommunications services to our
customers. These are precisely the benefits we've always said our merger
would produce -- so the sooner we begin this process, the better."
On March 21, the PSC issued an order establishing conditions for
its approval of the merger, giving the company 10 days to submit a response.