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FCC approves Verizon Wireless-Rural Cellular deal

EVDOforums.com Forum Index -> Verizon EVDO Service (Mobile BroadBand & NationalAccess)

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Alex
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Joined: 19 Sep 2006
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Location: Dallas, TX

Posted: Mon Aug 04, 2008 10:43 am Post subject: FCC approves Verizon Wireless-Rural Cellular deal

Quote:

WASHINGTON (AP) -- Federal regulators have approved Verizon Wireless' purchase of Rural Cellular Corp., but are requiring the company to sell overlapping operations in six markets.

The Federal Communications Commission approved the transfer of cellular, broadband and other spectrum licenses held by Rural Cellular to Verizon Wireless.

But the FCC is requiring the combined company to divest licenses, network assets and related operations in three markets in Vermont, two in Washington state and one in New York. The agency said the divestitures reflect "a case-by-case analysis which determined that there was a potential for competitive harm in the six markets."

The FCC approval, announced late Friday, comes roughly a year after Verizon Wireless agreed to purchase Rural Cellular for $757 million. The deal is valued at $2.67 billion including Rural Cellular's debt.

The Justice Department and state regulators already have signed off on the deal.

Rural Cellular, based in Alexandria, Minn., provides wireless services under the Unicel brand name in 15 states.

Verizon Wireless, a joint venture of New York-based Verizon Communications Inc. and Britain's Vodafone Group PLC, also is seeking regulatory approval to buy rural wireless carrier Alltel Corp. in a deal would make it the largest cellular provider in the U.S.

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