February 27, 1997
CONTACT: Contact: Susan Kraus 212-395-0500 or Joan Jamieson 802-863-0797
NYNEX Merger With Bell Atlantic Approved by Vermont Public Service Board
Montpelier, VT, Feb. 27, 1997 -- The
Vermont Public Service Board has approved the merger of
NYNEX and Bell Atlantic.
Of the seven states served by NYNEX,
only the New York Public Service Commission is still
conducting its review. All the other states in the region
either have approved the merger or have not sought
jurisdiction over it.
Ivan Seidenberg, NYNEX chairman and CEO,
said, "I am pleased that Vermont regulators have recognized
the substantial benefits of this merger, and I look forward
to approval shortly by the commission in New York and a
closing of this merger in the first quarter. Whether you are
in the heart of Manhattan or in Vermont's Northeast Kingdom,
the new Bell Atlantic will assure that every customer can
take full advantage of an information-based
Wayne Budd, NYNEX senior vice president
for New England, said, "As the new Bell Atlantic we will
continue our unwavering commitment to Vermont and Vermonters
in building an advanced network, maintaining jobs in the
state, and providing excellent customer service and strong
The proposed merger was announced on
April 22, 1996. Shareowners of both companies overwhelmingly
approved the merger at special meetings in early November.
The new Bell Atlantic will serve more than 39 million
telephone access lines and more than 4.5 million cellular
customers in 13 states and around the world.
NYNEX is a global communications and
media corporation 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 Republic. The corporation is a leader
in telecommunications, wirefree communications, directory
publishing and video entertainment and information services.
NYNEX is also managing sponsor of FLAG -- Fiberoptic Link
Around the Globe -- the worlds longest undersea fiber optic
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