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Technology Stocks : Advanced Fibre (AFCI) ** IPO -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (1818)	2/23/1999 1:24:00 PM
From: E_K_S	Read Replies (2) \| Respond to of 3299

There are rumors that SBC is close to announcing a contract with AFCI. Perhaps SBC needs the PUC & FCC "approval" decision first before they can commit to any new AFCI contracts..... Companies close to deal with phone merger opponents 12.53 p.m. ET (1753 GMT) February 23, 1999 COLUMBUS, Ohio — The proposed merger of SBC Communications Inc. and Ameritech Corp. moved a step closer to state regulatory approval when some major competitors dropped their opposition on Tuesday. The agreement between the local telephone giants now must be approved by the Public Utilities Commission of Ohio, which backers hope will happen within 30 days. Regulators in Illinois, where Ameritech is based, the Federal Communications Commission and the Justice Department also must OK the deal. Major opponents including Time Warner Inc. agreed to drop their opposition. Remaining opponents include AT&T Corp. and other long-distance companies. But SBC and Ameritech won the support of the Ohio Consumers' Counsel, which represents residential customers in rate cases, and the PUCO staff. Lawyers for SBC and Ameritech -- two Baby Bells created out of the breakup of AT&T in 1984 -- have been meeting since late January with the PUCO staff, Consumers Counsel Robert Tongren and representatives from AT&T, Time Warner, the American Association of Retired Persons and nearly 20 other competitors and groups trying to block the deal, which was valued at $62 billion when it was announced in May. Critics worry the proposed merger will squelch competition in the local telephone business and erode customer service. SBC and Chicago-based Ameritech say the merger would bring lower prices and better service. The merger would force other companies to accelerate plans to enter the market, increasing choice for consumers, they argue. Ameritech would become a subsidiary of SBC under the proposed stock swap that would create a 13-state system with 57 million phone lines, or about one-third of the nation's total. Ameritech operates in Illinois, Indiana, Ohio, Michigan and Wisconsin. SBC operates Southwestern Bell, Pacific Bell, Southern New England Telephone Co. and Nevada Bell. ====================================================================