GTE Message Board - Msg: 8923840

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Technology Stocks : GTE

GTE 3.770

+7.1%

12:28 PM EST

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To: IBMikey who wrote (610)	4/14/1999 7:06:00 PM
From: Triffin	of 671

GTE .. news Wednesday April 14 6:29 PM ET Bell Atlantic, GTE Ask For FCC Merger Review Delay WASHINGTON (Reuters) - Bell Atlantic Corp. (NYSE:BEL - news) and GTE Corp. (NYSE:GTE - news) Wednesday asked federal regulators to delay consideration of their $52 billion merger until the companies prepare a revised proposal for dealing with GTE's Internet and long distance businesses. In a letter to the Federal Communications Commission obtained by Reuters, the companies asked the agency to ignore a request they made in February that a law prohibiting Bell Atlantic from owning the businesses not be enforced for two years. Under the 1996 Telecommunications Act, the regional Bell companies are prohibited from offering long distance voice or Internet data calls within their regions until they prove they have opened their local networks to competitors. Bell Atlantic has not received authority from the FCC to offer long distance voice or data services in any of its 13-state region, but is only months away from filing a formal application covering New York state. In the letter, the companies said they would file a revised proposal for dealing with GTE's long distance and Internet businesses after Bell Atlantic filed its New York application with the FCC. ''We request that you await that submission before you act on our merger application,'' the companies wrote. ''We appreciate the fact that the FCC has moved promptly and diligently in its merger review and we certainly do not want the FCC to waste valuable time and resources on a proposal that has been overtaken by events.'' EOM ----------------------------------------------------------------- So we get to wait a little longer .. Jim in CT ..

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