VERIZON ACQUISITION OF FORMER WORLDCOM BUSINESS APPROVED BY COMMISSION.

The proposed acquisition of MCI by Verizon Communications has been approved by the European Commission under the EU Merger Regulation. MCI provides advanced communication services such as business data and internet services to businesses and governments. The firm formerly operated as WorldCom, which went bankrupt in 2002, leading to the conviction of Chief Executive Bernard Ebbers for accounting fraud. Fellow US firm Verizon provides telecommunications services mainly to residential customers and small businesses, although it does have some corporate and government customers in the US. Its annual revenues total more than $70 billion, and it has a workforce exceeding 200,000.

MCI is one of only a few international companies providing internet connectivity services, access to which is vital for downstream internet service providers such as Verizon. Verizon's US network will...