Verizon receives FCC approval for purchase of Rural Cellular
The US communications regulator the FCC has finally given the go ahead for Verizon Wireless to purchase Rural Cellular, a purchase that was first proposed some 13 months ago.
However, one of the requirement of approval is that one of the companies will need to “sell licenses in six markets in order to improve competition” which means they will have to “shed licenses in several parts of Vermont, one area of New York state and two areas of Washington state.”
Rural Cellular shareholder gave their approval last year, while the Justice Department approved in June, with the FCC’s approval being the final hurdle in Verizon’s $2.67 billion deal.
Nancy Stark, a spokesperson for Verizon Wireless, said of the news: “The FCC’s ruling is the final approval. We have to close the deal, and we’ll have a public announcement when that happens. We expect to close it soon.”
Source — phonescoop