Telecommunications deal valued at $8.4 billion is on track to close by early 2006 MCI shareholders have approved a merger with telecommunications competitor Verizon Communications, the two companies announced Thursday.MCI shareholders approved the deal in a Thursday vote by an “overwhelming” margin, the companies said. More than 64 percent of outstanding shares and 88 percent of the votes cast favored the merger, MCI said.The deal, worth about $8.4 billion, is on track to close in late 2005 or early 2006, the companies said, pending state and U.S. regulatory approvals. The MCI shareholder approval “adds to the momentum” toward closure of the deal, the companies said. MCI in May accepted the Verizon bid instead of a larger offer from Qwest Communications International. The merger with the larger Verizon would be better for MCI in the long-term, MCI officials said then.The bidding war for MCI started in February, after SBC Communications, another giant telecom carrier, announced a $16 billion deal to acquire AT&T in January. Technology Industry