ARLINGTON, Va.—TeleCorp PCS Inc. said it received early approval under the Hart-Scott-Rodino Antitrust Improvements Act for its acquisition by AT&T Wireless. TeleCorp announced last month it had agreed to sell the remaining 77 percent not already owned by AT&T Wireless for $2.3 billion in stock.
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The deal is expected to close during the first half of next year pending approval from TeleCorp shareholders and the Federal Communications Commission.
