[Federal Register Volume 65, Number 35 (Tuesday, February 22, 2000)]
[Notices]
[Page 8753]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-4148]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration (Southwestern Bell Telephone Company, Forty Year 6\7/
8\% Debentures, Due February 1, 2011), File No. 1-2346

February 15, 2000.
    Southwestern Bell Telephone Company, a Missouri corporation 
(``Company'') and an indirect, wholly owned subsidiary of SBC 
Communications, Inc. (``SBC''), has filed an application with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 12(d) of the Securities Exchange Act of 1934 (``Act'') \1\ and 
Rule 12d2-2(d) promulgated thereunder,\2\ to withdraw the security 
specified above (``Security'') from listing and registration on the 
American Stock Exchange LLX (``Amex'' or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    On September 27, 1999, the Company's Board of Directors adopted a 
resolution to withdraw the Security from listing and registration on 
the Amex. The Company, in making the determination to seek such 
withdrawal, has cited the following factors in its application to the 
Commission:
     The Security currently has a limited number of registered 
holders.
     The Security trades infrequently on the Exchange and the 
Company does not anticipate that such trading volume might increase 
appreciably.
     The costs associated with the continued listing of the 
Security are prohibitive, given the limited trading volume.
     The Company's parent, SBC, has agreed to guarantee the 
Company's Security. The Commission's Division of Corporation Finance, 
in response to a request by the Company, issued a ``no-action'' letter 
on December 23, 1999, in which it took the position that it would not 
object if the Company did not file reports under Sections 13(a) and 
15(d) of the Act with respect to the Security, noting that (1) SBC is 
subject to the reporting requirements of the Act, (2) the Company is a 
wholly owned subsidiary of SBC, and (3) SBC has fully and 
unconditionally guaranteed the Security. The Company has requested such 
exemption in order to save the costs of continuing to prepare such 
periodic and annual reports for filing with the Commission.
     The Company is not obligated by the terms of the indenture 
under which the Security was issued or by any other document to 
maintain the Security's listing on the Amex or any other exchange.
    The Company has stated in its application to the Commission that is 
has complied with the requirements of Amex Rule 18 and that the 
Exchange has indicated it will not interpose any objection to the 
withdrawal of the Security. Furthermore, the Company has stated in its 
application that the firm of Merrill Lynch, Pierce, Fenner & Smith 
Incorporated has agreed to act as a market maker in the Security after 
its withdrawal from listing and registration on the Amex.
    Any interested person may, on or before March 8, 2000, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW, Washington, DC 20549-0609, facts bearing upon whether 
the application has been made in accordance with the rules of the 
Exchange and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\3\
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    \3\ 17 CFR 200.30-3(a)(1).

Jonathan G. Katz,
Secretary.
[FR Doc. 00-4148 Filed 2-18-00; 8:45 am]
BILLING CODE 8010-01-M