Deutsche Telekom AG (DT) expects its takeover of U.S. wireless operators VoiceStream Wireless Corp. and Powertel Inc. to be complete by the end of May, after U.S. regulatory agencies gave final approval to the deal Tuesday.
The Committee on Foreign Investment in the United States (CFIUS) told the company that it has concluded its security review of the deal and will take no further measures, DT said in a statement.
CFIUS, an inter-agency committee chaired by the U.S. Secretary of the Treasury, is responsible for reviewing major foreign investment deals in the U.S. for their potential effects on national security. With the committee's approval, DT said, the deal has now cleared the final U.S. regulatory hurdle.
The U.S. Federal Communications Commission (FCC) approved the deal last week, saying it has "public interest benefits for U.S. consumers." DT said the merged companies will be able to offer customers improved wireless services on the worldwide GSM (global system for mobile communications) standard, including "the ability to be reached via a single mobile phone number, uniform billing, worldwide customer service, and shortly in the U.S., access to the Internet via GPRS (general packet radio service) high speed technology."