Verizon Communications has announced it has received approvals from the Federal Communications Commission to acquire Vodafone's US group with the principal asset of 45 percent of Verizon Wireless. Specifically, the FCC approved Verizon's foreign ownership petition should post-closing foreign ownership of Verizon Wireless exceed 25 percent, and entered its consent to certain pro forma license transfers. The transaction remains subject to customary closing conditions, including the approval of both companies' shareholders. The transaction is expected to close in the first quarter of 2014.
