The FCC today approved the $2.67 billion merger between Verizon Communications and Rural Cellular Corp. This move essentially locks up the merger since the Justice Department has already indicated it will approve the deal as long as Verizon gets rid of some of its spectrum in six markets.
The merger, which was announced in July 2007, allows Verizon to expand its footprint and save more than $1 billion in synergies in reduced roaming and OPEX expenses. RCC's customer base is 716,000 and it operates in about 15 states.
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