Majority Stock Purchase of American Mobile OKd
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American Mobile Systems Inc., a Woodland Hills operator of mobile radio systems, said the Federal Communications Commission approved New Jersey-based Nextel Communications’ plan to buy a majority stake in American Mobile for at least $50 million.
Under a previously announced agreement between the two companies, Nextel can acquire as much as 61% of American Mobile’s common stock at $7 per share. Nextel was formerly Fleet Call Inc.
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