The Federal Trade Commission has apparently ended an antitrust review of Sprint Nextel’s purchase of Virgin Mobile which now means the deal is that much closer to being completed reports The Associated Press.
However the acquisition of Virgin Mobile by Sprint still has to gain approval from the FCC but analysts believe the FCC will take a bit of time but will not be opposed to the deal.
Sprint Nextel already owns some 13.1% of Virgin Mobile and sealing the Virgin Mobile acquisition would then expand Sprint’s fast growing prepaid mobile phone service.