FCC Approves Sprint’s Acquisition of Nextel Parnters

On June 20, the FCC approved without conditions Sprint Nextel Corp.'s (“Sprint Nextel”) acquisition of affiliate Nextel Partners, Inc., which sells Nextel services in 58 mid-sized and rural markets, in a deal worth $6.5 billion. The transaction gives Sprint Nextel the two-thirds stake in Nextel Partners it didn't already own. It is one of seven such transactions where Sprint Nextel is acquiring affiliates. Five of the remaining transactions have closed, while the acquisition of UbiquiTel, Inc., which has already gotten DOJ clearance, is still pending.