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FCC approves $2.4B SunCom acquisition

SunCom Wireless Holdings Inc., Berwyn, today said its $2.4 billion acquisition by T-Mobile USA Inc. has been approved by the Federal Communications Commission, clearing the way for the deal to close by month's end.

SunCom Wireless Holdings Inc., Berwyn, today said its $2.4 billion acquisition by T-Mobile USA Inc. has been approved by the Federal Communications Commission, clearing the way for the deal to close by month's end.

Announced Sept. 17, the companies' merger agreement provides for the acquisition by T-Mobile USA of all of outstanding shares of common stock of SunCom, for $1.6 billion in cash and $800 million in assumed debt.

SunCom has about 1 million wireless subscribers in the southeastern United States, Puerto Rico and the U.S. Virgin Islands.

T-Mobile USA is a wholly owned subsidiary of Deutsche Telekom AG.

SunCom shares were up 14 cents to $26.91 in morning trading on the New York Stock Exchange.