Sprint-Nextel Deal Gets Government's Approval
Arshad Mohammed and Yuki Noguchi write in The Washington Post:
The merger of Sprint and Nextel Communications Inc. won approval this afternoon from both the Federal Communications Commission and the Justice Department, clearing the way for the creation of the third-largest mobile phone operator in the country.
The FCC said in a statement that it had concluded the merger would "serve the public interest, convenience and necessity, and that the likely public interest benefits of the merger outweigh any potential public interest harms."
The Justice Department, in a separate statement, said it saw no reason to challenge the merger, which will create a company with 35 million mobile phone subscribers. The Justice Department said consumers "will continue to have a number of other carriers from which to choose."
The combination will give the resulting company more ammunition to compete against much bigger rivals and to forge potentially lucrative partnerships with cable companies.
posted by Fergie @ 8/03/2005 03:35:00 PM
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