Clinton approves NTT-Verio deal

The White House announced Wednesday that President Clinton will allow Japan’s Nippon Telegraph & Telephone to purchase the U.S. Web hosting company Verio, which had undergone an unusual high-level review due to espionage concerns, according to a story by the Industry Standard. The proposed $5.5 billion deal came under the scrutiny of a federal government national security panel due to concerns about potential spying because NTT, which is majority owned by the Japanese government, could have access to U.S. wiretapping activities.