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Technology Stocks : AT&T -- Ignore unavailable to you. Want to Upgrade?

To: polarisnh who wrote (2692)	7/23/1999 7:19:00 PM
From: polarisnh	Read Replies (2) \| Respond to of 4298

Senators urge quick FCC review of AT&T-MediaOne WASHINGTON, July 23 (Reuters) - U.S. senators overseeing antitrust enforcement on Friday urged the Federal Communications Commission to complete its review of AT&T Corp.'s (NYSE:T - news) proposed $58 billion takeover of No. 3 cable operator MediaOne Group Inc. (NYSE:UMG - news) in just six months. Republican Mike DeWine of Ohio and Democrat Herb Kohl of Wisconsin, who have sponsored legislation that would impose a six-month limit on FCC merger reviews, said a quick verdict was needed to give ''certainty'' to businesses, employees and consumers. ''This need is especially pronounced with regard to the AT&T/MediaOne transaction because the FCC's decision on this proposed acquisition will send a strong signal to the marketplace regarding the commission's approach to competition and consolidation,'' the senators said in a letter to FCC Chairman William Kennard. DeWine is the chairman and Kohl the top-ranking Democrat of the Senate Judiciary Committee's antitrust subcommittee. New York-based AT&T, already the No. 1 long-distance telephone company, would become the largest cable operator in the nation as well if regulators approve its acquisition of Englewood, Colo.-based MediaOne. FCC cable bureau chief Debra Lathen said on Thursday that the commission would take public comments on the deal until Aug. 23, with responses to comments due Sept. 17.