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Clinton Allows Japan's NTT to Buy Verio
Posted: 24-Aug-2000 [Source: Reuters]

[NTT expects a successful deal now that US President Clinton has allowed its purchase of the carrier Verio.]

Washington -- President Clinton has decided to allow Japan's NTT Communications to buy U.S. Internet service provider Verio Inc., the White House said, saying the deal would not threaten U.S. national security.

The $5.5 billion deal attracted intense scrutiny from Washington because of worries that it might expose the United States to foreign espionage by giving Japan's state-controlled NTT access to U.S. wiretapping activities.

``President Clinton has decided against intervening in the proposed acquisition of Verio ... by NTT Communications,'' the White House said Wednesday in a statement, saying the decision was based on the results of a ``thorough'' investigation by the government's Committee on Foreign Investment in the United States (CFIUS).

``As a result of the investigation and negotiations with NTT Communications and Verio, any national security issues that may have been presented by this transaction have been resolved,'' it added.

NTT Communications President Masanobu Suzuki said in a statement issued in Tokyo that he welcomed Clinton's decision and was very happy about the go-ahead.

``Although the planned end of our tender offer is midnight August 30, this has brought us a large step closer to the acquisition of Verio and we expect the deal to close successfully,'' Suzuki said.

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