WASHINGTON-The Justice Department and Federal Trade Commission have cleared Verizon Wireless’ proposed $102.5 million purchase of certain wireless licenses and operating assets of Leap Wireless International Inc.
The two wireless companies originally announced the deal March 14. The Federal Communications Commission must still approve the transfer of the licenses to Verizon Wireless.
Verizon Wireless is acquiring 23 spectrum licenses covering a population of 8 million people in 20 markets in Michigan, Wisconsin, Arkansas, Mississippi, Alabama and upstate New York. Verizon Wireless said several of the licenses being bought are in markets where it already has coverage and that the purchase of additional spectrum will expand capacity to meet growing demand for voice and data services in those locations.
