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FCC Conditionally OKs Cingular Acquisition Of AT&T Wireless

WASHINGTON (AP) _ The Federal Communications Commission gave its approval Tuesday to Cingular Wireless LLC’s $41 billion acquisition of AT&T Wireless Services Inc., completing the federal regulatory blessing necessary for creation of the country’s largest cell phone company. The move follows Monday’s announcement that Justice Department antitrust regulators approved the deal. Both agencies attached conditions to ensure there is adequate competition in different markets.

“We believe our conditions, combined with the benefits to the consumer experience brought by Cingular’s new scale and scope, will ensure the public interest is served by this transaction,” said FCC Chairman Michael Powell.

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Yes, there are still hoops to jump through, but Cingular wants to get things wrapped up by the end of the year. They go into more detail on their Web site.

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