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FCC approves Sprint and Nextel merger

4 Aug 2005 | FCC , Nextel , Sprint , Sprint Nextel | 0 comments


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The Federal Communications Commission (FCC) approved yesterday the Sprint and Nextel merger transaction. All required approvals have been completed for the merger, so the deal should close shortly. The shareholders of the two companies have already agreed to this acquisition last month.

The merger-of-equals between Sprint and Nextel was announced on December 15 last year in order to create Sprint Nextel. After the completion of this merger, Sprint Nextel common stock will trade on the New York Stock Exchange under the ticker symbol "S."

"The FCC has agreed that uniting these two great companies is in the public's interest," said Tim Donahue, president and CEO of Nextel. "When we complete the merger, Sprint Nextel will have unmatched wireless capabilities and a global IP network to provide consumers with high-value, integrated communications solutions to meet their needs. We are eager to get started."

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