Verizon Gets Conditional OK For $2.7B RCC Buyout

Law360, New York (June 10, 2008, 12:00 AM EDT) -- The U.S. Department of Justice will allow Verizon Communications Inc. to proceed with its proposed $2.7 billion acquisition of Rural Cellular Corp., provided it sells off airwaves in six geographic areas in three states.

The DOJ said Tuesday that it will require Verizon to divest assets in six geographic areas in Vermont, New York and Washington in order to proceed with its purchase of RCC, which does business under the Unicel name.

Verizon is the second largest mobile wireless telecommunications services provider in the U.S. as...
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