Telecom mergers set for approval today.

"Two multibillion-dollar telecom mergers are expected to clear their final federal hurdle today and be approved, with conditions, by the Federal Communications Commission. SBC Communications, which is buying AT&T, and Verizon, which is buying MCI, agreed to concessions aimed at promoting competition and preventing the companies from unfairly controlling Internet traffic, say people with knowledge of the matter. The SBC-AT&T and Verizon-MCI mergers are expected to close by early next year."