FCC approves merger of Rural Cellular, Verizon Wireless

By Lisa Kerner

Charlotte, N.C., Aug. 1 - Rural Cellular Corp. said the Federal Communications Commission approved the company's proposed merger with Verizon Wireless.

The merger is expected to be completed in August, according to a form 10-Q filing with the Securities and Exchange Commission.

Rural Cellular entered into a merger agreement July 29, 2007 with Cellco Partnership, a general partnership doing business as Verizon Wireless; AirTouch Cellular, an indirect wholly owned subsidiary of Verizon Wireless; and Rhino Merger Sub Corp., a wholly owned subsidiary of AirTouch Cellular.

Under the merger agreement, Rural Cellular shareholders will receive $45 per share, a prior news release noted.

It was previously reported that Verizon Communications Corp. must divest assets in six geographic areas in Vermont, New York and Washington in order to move forward with Verizon Wireless' $2.7 billion acquisition of Rural Cellular, the Department of Justice ruled.

Verizon Wireless is a wireless voice and data network based in Basking Ridge, N.J.

Rural Cellular, located in Alexandria, Minn., provides wireless communication services under the Unicel brand.

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