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CenturyLink, Qwest Merger Gets FCC Nod
The Federal Communications Commission has given approval for a $22 billion merger between CenturyLink and Qwest Communications.
The联邦通信委员会(FCC) has given approval for a $22 billion merger betweenCenturyLinkandQwest Communications. The deal, which is expected to close on April 1, 2011, is subject to receipt of the remaining regulatory approval.
The District of Columbia and 20 states, as well as shareholders from both companies have already approved the deal, addsThe Wall Street Journal. To secure FCC approval, the companies offered various voluntary commitments, including a timetable for upgrading subscriber broadband speeds and availability, discounted services to low-income customers and capping the financing the new entity would get from a federal phone subsidy program.
Click here for the release fromQwest.
Click here for additional coverage fromThe Wall Street Journal.