|Sprint and Nextel Receive FCC Merger Nod|
Posted: 03-Aug-2005 [Source: Nextel]
["Sprint Nextel" gets FCC approval for pending merger.]
Overland Park, KA & Reston, VA -- Sprint and Nextel Communications Inc. today announced that they have received Federal Communications Commission (FCC) approval for the companies' pending merger transaction. This completes all required regulatory approvals for the merger, and the companies expect to close the merger shortly.
The proposed merger-of-equals between Sprint and Nextel was announced on Dec. 15, 2004 with a commitment to create Sprint Nextel -- a leading communications provider that will offer a comprehensive range of innovative wireless and wireline products and services to consumer, business and government customers. After the completion of the merger, Sprint Nextel common stock will trade on the New York Stock Exchange under the ticker symbol "S."
"We'd like to thank the Commissioners and staff at the FCC for the many long hours and thoughtful review they've given this proposed merger," said Gary Forsee, chairman and CEO of Sprint. "Now that we have received the Commission's approval, we can combine Sprint and Nextel. The combined company will enable us to bring stronger wireless competition to all customers, expand our portfolio of consumer devices and data services that focus on content, media and entertainment, and deliver enhanced business and government applications that truly bring to life the convergence model of tomorrow."
"The FCC has agreed that uniting these two great companies is in the public's interest," commented 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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