FCC Approves Wireless Ventures

<%=company1%> and Vodafone AirTouch have moved one step closer toward their merged wireless operations. The Federal Communications Commission has granted approval to Bell Atlantic Corp. (New York) and Vodafone AirTouch (London) joint venture to combine their U.S. cellular, paging, and PCS businesses, forming a new nationwide wireless company that it expected to increase competition in the wireless industry.

The joint venture will serve more than 90% of the country, 49 of the top 50 wireless markets, and 209 million people. The deal is expected to close soon.

The FCC has also given the nod to Chicago, IL-based Aerial's joint venture with VoiceStream Wireless (Bellevue, WA), which gives rise to a nationwide network for the GSM community. VoiceStream has already gained regulatory approval for its acquisition of Omnipoint.

Edited by Ellen Jensen