Description

Two large telecommunications companies had just announced their intention to merge. In order to ensure timely regulatory approval of the merger, the companies needed careful coordination and management of the various regulatory workstreams: FCC, DOJ, SEC/Shareholders, State PUCs, and foreign regulatory bodies while continuing to maintain the required level of distance between the two, still separate, companies.

The large number of merger approval workstreams, the vast range of stakeholders and the fast pace of activity required well-defined, disciplined program management to coordinate activity between the different regulatory teams.

Approach

We first established the regulatory core team and assigned each member with representing a particular regulatory workstream.

The core team then drafted the anticipated regulatory approval timeline for all workstreams, identifying key requirements and milestones. This timeline was used at all levels to manage the approval process and communicate progress to key executives.

During the course of the merger approval process, the core team met on a weekly basis to discuss upcoming activities, news, milestones and agree on the approach for each regulatory workstream.

Throughout the merger approval process, we worked on daily basis with senior company executives, outside law firms, and public relations experts.

Results

The merger was approved one month ahead of schedule without any conditions.

Throughout the merger approval process, all communications with regulatory bodies and other stakeholders was clear, consistent and accurate.