WASHINGTON-The Federal Trade Commission and the Department of Justice have approved Verizon Wireless’s purchase of bankrupt NextWave Telecom Inc.’s New York license.
The deadline for oppositions expired at midnight Aug. 9.
“The Hart-Scott-Rodino period doesn’t technically expire until midnight, but I think it is fair to interpret the notification we have received to mean that neither the FTC nor the Justice Department sees any reason to stop the closing of this transaction, and we think that is great news. We have only recently filed for approval from the Federal Communications Commission, but we hope to obtain that as quickly as possible,” Michael Wack, NextWave senior vice president and deputy general counsel, told RCR Wireless News Monday.
Verizon Wireless made the required minimum bid of $930 million in a private auction held by NextWave last month. The New York license covers more than 20 million people.
The nation’s largest wireless carrier declined comment.
