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Technology Stocks : SBC Communications -- Ignore unavailable to you. Want to Upgrade?

To: KEN G who wrote (106)	9/12/1999 11:30:00 AM
From: KEN G	Read Replies (1) \| Respond to of 216

Illinois Regulators Set to Approve Ameritech/SBC Next Wk By ANN KEETON CHICAGO -- Richard Mathias, chairman of the Illinois Commerce Commission, said Friday the five ICC commissioners would finally vote next week on SBC Communications Inc.'s (SBC) proposed takeover of Ameritech Corp. (AIT). The deal was first announced in May of last year. The Illinois regulators have come to agreement on all major conditions they had set for approving the deal. ICC spokesman David Farrell told Dow Jones Newswires it will likely be Sept. 17 before they take a vote because the results of their deliberations this week need to be drafted into the 200-page final order prior to voting. He said he doesn't see any problem with meeting the commission's final deadline of Sept. 22. At Friday's meeting, the commission knocked down a plan to pass along a predetermined amount of savings generated by the merger, perhaps as much as $60 million a year for five years, to Ameritech customers in Illinois. The plan had suggested cutting customers' phone bills right after the merger closes. But a three-person majority of commissioners said they would rather wait until the deal closes to see what the actual savings will be. At that time, they suggested, half of those savings could be returned to rate payers. Consumer advocate groups worry the merged company's accountants may make those savings hard to find. Once the ICC approves the merger, SBC and Ameritech still need the approval of the Federal Communications Commission. FCC commissioners are expected to take up the issue later this month. The new company will serve customers in 13 states. In addition to Illinois, two other states, Ohio and Nevada, were required by state law to review the deal. Both states have given their approval.