In April, two regional baby bells, NYNEX and Bell Atlantic, annouced their intention to merge. Under the proposed terms of the merger, stockholders of NYNEX will receive one share of the new company. Stockholders of Bell Atlantic will receive 1.302 shares of the new company. Before this merger can proceed, it must be approved by the stock holders of the two companies. It must also be approved by state regulators (in the states the company will serve) and by federal regulators. This claim will be judged true if this merger succeeds. This claim will be judged true when local phone service in the regions currently served by Bell Atlantic and by NYNEX are served by a single company. This claim will be judged false: 1) NYNEX and Bell Atlantic decide to call off the merger. 2) NYNEX or Bell Atlantic shareholders reject the merger (however, a change could be made in the stock-swap ratios given above and this claim could still be true.) 3) The deal is not approved by state or federal regulators, and no compromise is reached. 4) NYNEX and Bell Atlantic agree to a partial merger, without fully joining their local phone service operations.