"This merger is a logical next step that creates substantial value for customers and stockholders of both AT&T and BellSouth," said AT&T Chairman and CEO Edward E. Whitacre Jr.
Oh, it’s the next logical step alright. So in 1984 ATT was split into 7 regional Bell Operating Companies (RBOC), with ATT getting the lon distance biz and some other stuff. Now, a little over 20 years later, Ma Bell is back. BellSouth was the last of the original RBOCs existing as it did when created in 1984, now it is just another cog in the great Bell machine once again. ATT now consists of 4 of the 7 ROBOCs, what’s left of the LD biz and the largest wireless operation in the country. So much for competition and innovation. I hope everyone still has there big black phone.