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NYNEX Merger With Bell Atlantic Approved By Vermont Public Service Board
February 27, 1997
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.
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 economy."
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. Share owners 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.