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to exercise its option to sell a Verizon Wireless stake that is valued at $10 billion. 17 p.m. LSE shareholders approved the acquisition of Italy's Borsa Italiana, a deal that may thwart a takeover by Nasdaq. 27 p.m. Friends Provident says it is unlikely that its planned merger with rival U.K. insurer Resolution will fall through. 41 p.m.
Thinkpad (AXcess News) New York - MCI (Nasdaq: MCIP) shareholders voted to accept the Verizon Communications, Inc. (NYSE: VZ) takeover bid. MCI shareholders voted by an overwhelming majority to accept the telco giant's offer.
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Microsoft MCI and Verizon still need to get federal, state and international regulatory approval in order to complete the merger,Verizon said.
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Laptop Computers Verizon CEO Ivan Seidenberg told reporters, "Today's vote brings us an important step closer to completing the MCI transaction."
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Laptop Computer Verizon's merger with MCI will capitalize on the strengths of each company. The combined technologies MCI and Verizon have will create one the largest communication companies in North America and raise the bar on competition. Though will the complimentary strenghts of MCI and Verizon are a match, communications regulators may think otherwise.
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Desktop Computer The Federal Communications Commission has been going through a change of its own and government contracts that were served by MCI could be in question if the telecommunications companies are allowed to complete their merger. The FCC may require that both companies shed certain business units in order to avoid monoply issues. Though MCI's CEO, Michael D. Capellas, believes the companies will successfully complete their deal.
Notebooks "The combined company will have the strength and assets necessary to be a competitive force in today's transforming communications marketplace," said Capellas.
Lenovo Shares of MCI were up 3 cents at $25.50 and Verizon's shares were last quoted at $31.05, down 36 cents at 3:02pm EST Thursday.
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