Multi-agency Committee on Foreign Investment in U.S. (CFIUS) fina...

Multi-agency Committee on Foreign Investment in U.S. (CFIUS) finalized its review of VoiceStream, Deutsche Telekom and Powertel merger, allowing companies to clear last remaining regulatory hurdle before deal closes. VoiceStream said CFIUS ended its review with decision to take no further action. Panel includes departments of Defense, State, Commerce and Treasury. VoiceStream reiterated that it expected merger to close May 31. FCC unanimously gave green light to transaction last week with no major merger conditions. Successful CFIUS review had been expected after companies reached agreement with FBI and Dept. of Justice earlier this year on national security issues. That auxiliary deal was incorporated into FCC approval of transaction. CFIUS itself was created under Exon-Florio amendment to 1950 Defense Production Act and its investigation typically can last up to 45 days.