In order to continue purchasing unused airwaves from other firms, Verizon Wireless, the largest mobile provider in the U. S. and cable company Comcast in principle agreed to limit joint ventures. The cross-marketing agreement includes Verizon Wireless's bid to purchase unused airwaves owned by cable companies worth $3.6 billion. The companies are attempting to place limits on activity which may further strengthen the monopoly of a small number of telecommunications firms.
Verizon spokesman Richard Young speaking about the deal said, "We continue to have constructive conversations at both the FCC and Department of Justice and anticipate approval later this summer." Verzion holds 60.7 per cent of the market with At&T's share coming second. U. S. officials are seeking conditions that would preserve competition in a telecommunications market characterized by locally exclusive cable companies and a wireless sector dominated by four players. John Demming, a Comcast spokesman, didn't immediately return a phone call seeking comment. Verizon Wireless in 2009 decided it wouldn't increase its planned deployment of FiOS, according to a company filing at the FCC. Under the tentative conditions, the companies must return to federal authorities after a period of about four or five years for permission if they wish to continue to sell each other's products.
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