The FCC on Thursday published its first set of filings with the Securities and Exchange Commission about its $2.2 billion purchase of wireless carrier Ameritech, a deal that will give the FCC control over nearly 40 percent of the country’s wireless market and is expected to result in more than 3 million fewer customers in the United States.
The FCC will buy Ameritech from Cingular for $2 billion.
Cing, which owns Ameritech and other mobile phone providers, has been lobbying hard for the FCC to buy the company, according to a Bloomberg report from August.
But Ameritech’s stock price has plummeted in recent months and its shares are now trading at more than a quarter of a billion dollars.
Ameritech CEO Matt Schulman has said that the FCC deal will “strengthen our competitive position.”
The FCC filings indicate that the deal has been approved by the commission’s three commissioners, which include Pai, and that the merger will be subject to FCC approval.
The deal is expected be announced in the coming weeks.