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FCC: Sprint and Nextel Okay to Merge

The FCC today approved the proposed merger between Sprint Corp. and Nextel Communications Inc.


Sprint says the companies now have completed all required regulatory transactions and soon will wrap up the merger.


The deal creates the No. 3 wireless company in the United States. The combined company stock will trade on the New York Stock Exchange under the ticker symbol S.


“This action will ensure that consumers continue to receive the benefits of wireless competition, such as reduced prices and increased coverage,” said FCC Chairman Kevin Martin in a news release. “In addition, consumers can expect improved service quality and more advanced services.”


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