|
Applications for
Transfer of Control in Mergers and Acquisitions
Telecommunications carriers seeking to transfer assets or corporate control
in mergers and acquisitions must first receive approval from the FCC.
The Commission examines the public interest impact of a proposed
domestic or international transaction.
Pursuant to Section 214 of the Communications Act of 1934 (link in
left-hand navigation panel), sections 63.03
and 63.04
of the Commission's rules govern procedures for domestic transfer of
control/asset applications. The rules also:
- Provide guidance on pro
forma transfers
- Provide for jointly-filed
applications for domestic and international services
- Describe six categories
of transactions that are presumptively accorded streamlined treatment
resulting in an automatic grant 31 days following public notice of the
application.
Carriers must file a discontinuance
application when an acquisition will result in a reduction or
impairment of service.
In any transaction, carriers acquiring all or part of another carrier's
subscriber base must notify subscribers and meet other requirements in
section 64.1120(e)
of the Commission's rules.
International mergers and acquisitions are subject to section 63.24
of the FCC’s rules. International applications are reviewed by
the International Bureau.
|
