Verizon and MCI confirm $6.7 billion fusion

Verizon confirmed a $6.7 billion deal to acquire long-distance provider MCI.

Verizon Communications, which is primarily a regional player, will use MCI's nationwide and global Internet Protocol networks to help it reach out to MCI's business customers--a group among which Verizon has had little success. Enterprise customers could also help New York-based Verizon expand its wireless business, Verizon Wireless, a venture of Verizon Communications and Vodafone Group.

More details at Cnet