Brief: Key Committee Clears Verio Acquisition

FRAMINGHAM (08/18/2000) - A federal committee has given the green light to the acquisition of Englewood, Colo.-based Internet backbone and Web-hosting company Verio Inc. by Tokyo-based NTT Communications Corp., according to sources who declined to be named. After President Clinton receives the recommendation of the congressional Committee on Foreign Investment, he'll have 15 days to approve or reject the deal. The acquisition, valued at US$5.5 billion when it was announced in May, has been delayed several times by the U.S. government's probe into its national security implications.

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