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July 9, 1997updated 05 Sep 2016 12:33pm

BT-MCI MERGER GETS GO-AHEAD

By CBR Staff Writer

British Telecommunications Plc has been given permission by the US Justice Department to go ahead with its acquisition of MCI Communications Corp, a deal valued at some $24bn (CI No 3,141) that will be one of the biggest all time take-overs of a US company by a British one: the deal now awaits the approval of the Federal Communications Commission who hopes to complete its work by the end of the summer; BT and MCI have both said they remian confident the acquisition, that will create a combined company, Concert, will be completed by the autumn.

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