NEW YORK (AFX) - US telecommunications giant AT & T Corp. and BellSouth Corp announced a giant 67 billion dollar merger deal Sunday.
The deal, if approved by US regulators, would create the country's largest telecommunications group by market capitalization, overshadowing rival Verizon.
'This merger is a logical next step that creates substantial value for customers and stockholders of both AT and T and BellSouth,' AT and T chairman and chief executive Edward Whitacre Jr., said in a statement. newsdesk@afxnews.com afp/ec COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited