Mike Beilis has induced Brookings economist Bob Crandall to give some thoughts on the MCI and AT&T mergers. Worth a read (link in AT&T box -- Mike uses frames and I can't figure out how to direct link Crandall identifies a salutary effect of the mergers:
The most important benefits from these two mergers is a likely end to the intense intramural regulatory squabbles that have gripped the U.S. telecom sector since the 1996 Act replaced the AT&T decree.