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SBC, BellSouth Get FCC Approval for Wireless Venture
Posted: 29-Sep-2000 [Source: Reuters]

[The FCC approved SBC and BellSouth's merger to become the second largest wireless carrier in the US behind leader Verizon Wireless. The new company name will be announced next week.]

by Jeremy Pelofsky, Washington -- "The Federal Communications Commission (news - web sites) late Friday approved with conditions SBC Communications Inc. (NYSE:SBC - news) and BellSouth Corp.'s (NYSE:BLS - news) proposal to create the second-largest wireless carrier in the United States.

"The combination of SBC and BellSouth's U.S. wireless properties will not adversely affect competition in any U.S. telecommunications market and will permit the companies to form a wireless network capable of competing with other companies that provide service on a nationwide basis," the FCC said in a statement.

"The venture, which was announced in April, will have about 18 million subscribers, second to Verizon Wireless, a joint venture between Verizon Communications (NYSE:VZ - news) and Britain's Vodafone AirTouch Plc (VOD.L).


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