21.   The department said the divestiture agreement resolved its concerns that the merger would reduce competition in the Atlantic City, N.J., area.

22.   The FTC asked for the ruling, arguing that the mergers would reduce competition and raise prices.

23.   The merger would reduce transfer fees between banks, thus lowering the interest rate, he said.

24.   They fear the merger could reduce the size of their pensions.

25.   Yet, to the authorities, such a merger would reduce their control and they will have to think hard whether to allow the associations to merge.

26.   Sakata said the merger should also reduce operating costs, with advertising costs likely to benefit first.

27.   The monopoly watchdog also warned the merger could reduce the choice of airfares available to travellers.