FTC OKs Sprint Nextel’s Takeover Of Virgin Mobile

Law360, New York (August 24, 2009, 8:00 PM EDT) -- The Federal Trade Commission has given the green light to Sprint Nextel Corp.’s proposed $483 million takeover of wireless carrier Virgin Mobile USA Inc.

The FTC said in a notice on Monday that it had approved the merger, clearing the way for Sprint to acquire one of its wireless resellers.

Sprint unveiled the deal in July, saying it would reinforce the mobile provider’s position in the prepaid sector, in which customers can choose a pay-as-you-go plan.

Facing a decline in its long-term contract subscribers, Sprint has...
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