Last week the Department of Justice kept quiet on the T-Mobile/MetroPCS merger, signifying that it did not have an issue with the proposition, and on Tuesday the deal got another big green light. The Federal Communications Commission has given the planned acquisition its grant of approval.
“With today’s approval, America’s mobile market continues to strengthen, moving toward robust competition and revitalized competitors,” FCC chairman Julius Genachowski said. “We are seeing billions more in network investment, while the courts have upheld key FCC decisions to accelerate broadband build-out, promote competition, and benefit consumers, including our broadband data roaming and pole attachment rules. Today’s action will benefit millions of American consumers and help the U.S maintain the global leadership in mobile it has regained in recent years. Mobile broadband is a key engine of economic growth, with U.S. annual wireless capital investment up 40% over the last four years, the largest increase in the world, and few sectors having more potential to create jobs. In this fast-moving space, of course challenges remain, including the need to unleash even more spectrum for mobile broadband and continuing to promote competition and protect consumers. The Commission will stay focused on these vital goals.”
The deal still requires permission from MetroPCS shareholders, and that vote is scheduled for March 28.