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. Last Updated: 07/27/2016

Vodafone Bid Approved

WASHINGTON -- The Federal Communications Commission has approved British mobile phone company Vodafone Group PLC's $62 billion acquisition of U.S. carrier AirTouch Communications Inc., allowing the creation of an international wireless powerhouse.

The commission said Tuesday that the deal would have no adverse effects on competition since the two companies did not compete against each other in the United States.

Vodafone, the largest wireless carrier in Britain, had already agreed to sell its 17 percent stake in German mobile telephone group E-Plus to meet European competition concerns.