|
|
OVERLAND PARK, Kan. & RESTON, Va. – Sprint and Nextel Communications 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. Both the FCC and the Department of Justice’s Antitrust Division agreed that the merger would not hinder competition in the marketplace and would leave consumers with sufficient choices among wireless carriers.
| OTHER WIRELESS NEWS |
The proposed merger-of-equals between Sprint and Nextel was announced on Dec. 15, 2004 with a commitment to introduce Sprint Nextel as 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 will be the company’s official name, though it will be referred to as “Sprint” in the marketplace and traded under the stock symbol “S” on the New York Stock Exchange.
| WHO'S YOUR WIRELESS CARRIER? |
Are you a current Sprint or Nextel customer or do you prefer a different wireless service provider? Share your thoughts on how this merger and cell phone usage in business on the Lawn & Landscape Online Message Board. Here are some discussion topics to get you started: |
"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."
Before the merger, Nextel was the nation's No. 5 carrier in 2004 while Sprint held the No. 3 spot in the marketplace. The combined carrier is expected to remain in the No. 3 position below No. 1 Cingular Wireless and No. 2 Verizon. Sprint Nextel, however, will become the only be wireless service provider without ties to a regional telephone company. Cingular is owned jointly by SBC Communications and Bell South, while Verizon Wireless is partly owned by Verizon Communications.