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April 25, 1997updated 05 Sep 2016 12:11pm

BELL ATLANTIC – NYNEX MERGER APPROVED BY DOJ

By CBR Staff Writer

After all the recent speculation, The US Department of Justice (DOJ) will not stop the merger between Bell Atlantic Corp and Nynex, making it close to a done deal. A statement issued by the DOJ said that, after thorough analysis, it had closed its investigation of the proposed merger and that it would not challenge the transaction, having concluded that the merger does not violate antitrust laws. Only approval by the Federal Communications Commission (FCC) is required to close the transaction, which might not prove to be a major stumbling block. A spokesperson for Nynex stressed that although the DOJ decision was a huge step, the FCC approval is definitely something to be worried about.

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