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SBC/AT&T Merger Approved in PennsylvaniaSAN ANTONIO & BEDMINSTER, N.J. --(Business Wire)-- Oct. 6, 2005 -- SBC Communications Inc. (NYSE: SBC) and AT&T (NYSE: T) today applauded the Pennsylvania Public Utility Commission (PA PUC) for its decisive action in approving the merger of the two companies. "The Pennsylvania commission clearly recognizes that the merger of these two companies will translate into more competition, more innovation, and more benefits for Pennsylvania businesses and consumers," said Wayne Watts, SBC senior vice president and associate general counsel. "We thank Chairman Wendell Holland and his fellow commissioners for their leadership and vision." "Today, the Public Utility Commission took an important step to ensure that Pennsylvania residents and businesses will be able to enjoy the benefits of 21st century communications technology," said Jim Cicconi, AT&T executive vice president and general counsel. "We look forward to similarly favorable decisions in the remaining three states as we complete the approval process and move toward merger close late this year." Once the merger is completed, the new company will combine the networks and complementary resources of the two companies to provide businesses and consumers with greater choice in communications services, bring new technologies to market faster and ensure continued U.S. leadership in the global communications marketplace. With today's decision, Pennsylvania becomes the 33rd of 36 states to clear the merger, along with the District of Columbia. Merger review is also under way at the U.S. Department of Justice and the Federal Communications Commission. About SBC SBC Communications Inc. is a Fortune 50 company whose subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and advertising, and related services to businesses, consumers and other telecommunications providers. SBC holds a 60 percent ownership interest in Cingular Wireless, which serves 51.6 million wireless customers. SBC companies provide high-speed DSL Internet access lines to more American consumers than any other provider and are among the nation's leading providers of Internet services. SBC companies also offer satellite TV service. Additional information about SBC and SBC products and services is available at www.sbc.com. About AT&T For more than 125 years, AT&T (NYSE 'T') has been known for unparalleled quality and reliability in communications. Backed by the research and development capabilities of AT&T Labs, the company is a global leader in local, long distance, Internet and transaction-based voice and data services. |
