European Commission Approves Verizon-MCI Merger

European regulators today approved the merger of Verizon Communications Inc. and MCI Inc.

The $8.4 billion transaction has yet to be approved in the United States, although MCI shareholders yesterday gave their thumbs-up to the deal.

The European Commission determined the deal will not harm competition in the region.

Verizon and MCI issued a joint statement saying the merger remained on track to close by the end of this year or early next.

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