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StumbleDeutsche Telekom, VoiceStream clear merger hurdle
Tuesday, May 1, 2001 | 11:07 a.m.
WASHINGTON -- German telecommunications powerhouse Deutsche Telekom AG cleared the final regulatory hurdle today in its bid to acquire U.S. mobile phone company VoiceStream Wireless.
Now, the companies are aiming to seal their deal -- worth about $29 billion -- by the end of May. They hope to build a wireless business that can compete nationally against such players as Verizon Wireless, Sprint PCS and AT&T Wireless.
The Committee on Foreign Investment in the United States has completed its review of the deal and determined it won't pursue any further action, the companies said today.
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