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CenturyTel and Embarq looking forward to close merger in Q2

CenturyTel and Embarq, providers of communication services, got approval from California, Oregon and Virginia Commissions, on merger which is expected to close in second quarter, subject to approval of the rest of the two states.

By CBR Staff Writer

Apart from obtaining state regulatory approvals, CenturyTel and EMBARQ have received approvals of their respective shareholders, they approved all proposals related to the merger. Previously, the companies received early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Combined the companies will have approximately 7.5 million access lines, around two million broadband customers and more than 400,000 video subscribers, based on data as of March 31, 2009.

With the approval from the California Public Utilities Commission, the Oregon Public Utility Commission and the Virginia State Corporation Commission, only two of the 33 states in which the two companies provide local service are pending.

Glen F. Post III, chairman and chief executive officer of CenturyTel, said: With the approval of the California, Oregon and Virginia regulatory authorities, we take an important step toward completing this transaction. We look forward to closing this merger and realising the considerable benefits of this combination for our customers, employees and shareholders in the months ahead.

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