"We are pleased to have received state approvals for our merger from Nevada and Tennessee, and are looking forward to securing the remaining approvals needed to close the transaction," said Glen F. Post III, CenturyTel's chairman and chief executive officer. "This merger will benefit customers and promote investment, and we appreciate the support of the commissions who have granted their approval."
"These state regulatory approvals are important milestones toward a successful closing, and we remain on track to close the merger in the second quarter of 2009," said Tom Gerke, EMBARQ's chief executive officer. "These approvals move us closer to providing the many customer benefits this transaction presents. We look forward to serving our customers and communities as a combined company."
In addition to the state regulatory approvals, CenturyTel and EMBARQ have already received the approvals of their respective shareholders, who overwhelmingly approved all proposals related to the merger on Jan. 27, 2009. On Nov. 24, 2008, the companies received early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Combined, CenturyTel and EMBARQ will have approximately 7.7 million access lines, more than two million broadband customers and more than 400,000 video subscribers, based on data as of Dec. 31, 2008.
