The outgoing chairman of the Federal Communications Commission has told the US government that the proposed merger between AT&T Corp and SBC Communications Corp (CI No 3,169) is not at all the deal that was in the mind of Congress. Reed Hundt said the proposed merger would need an awful lot of scrutiny and his comments come following the introduction of the Telecommunications Act last year aimed at deregulating the industry and encouraging competition. Neither company has confirmed the deal will go ahead, but if it does it is expected to be worth $50bn.
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