AT&T Gets OK To Buy $2.35B In Verizon Licenses

Law360, New York (June 23, 2010, 12:47 PM EDT) -- The Federal Communications Commission has approved AT&T Inc.'s $2.35 billion acquisition of Verizon Wireless licenses for service in 79 mostly rural areas across 18 states, a condition antitrust authorities set as part of Verizon's $28 billion purchase of Alltel Corp. in 2008.

The FCC said in a unanimous opinion Tuesday that the divestiture would bring AT&T services to markets in mostly rural areas where it currently offers no cell phone service or very limited service.

“Generally, we do not find it likely that AT&T would be...
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