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Sprint-Nextel merger OK’d

Thursday, Aug. 4, 2005 | 9:45 a.m.

WASHINGTON -- Sprint Corp.'s $35 billion acquisition of Nextel Communications Inc. got the go-ahead Wednesday from regulators, bolstering Sprint's status as the No. 3 wireless company in the United States.

After the Federal Communications Commission approved the deal, the Justice Department gave its blessing a short time later.

"This action will ensure that consumers continue to receive the benefits of wireless competition, such as reduced prices and increased coverage," said the commission's chairman, Republican Kevin Martin. "In addition, consumers can expect improved service quality and more advanced services."

A Democratic commissioner, Jonathan Adelstein, said the companies pledged to use some of their spectrum to provide wireless broadband services to at least 30 million people in large and small markets.

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