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    Wednesday, June 26, 2019-12:36:52P.M.

     

     

     

     

     

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Guam Docomo-MCV deal clears federal hurdle

HAGÅTÑA — The U.S. Department of Justice has cleared NTT Docomo Inc.’s proposed acquisition of MCV Guam Holdings Corp., paving the way for completion of the Federal Communication Commission’s review and eventual approval of the transaction.

In a petition filed with the FCC on Thursday, Richard C. Sofield, director of DOJ’s Foreign Investment Review Staff, said the department and other federal agencies that reviewed the deal “have no objection to the commission approving” the transfer application.

The FCC was initially anticipated to act on the application earlier this month based on its self-imposed 180-day deadline. The commission deferred its review, however, pending investigation by the DOJ, the Federal Bureau of Investigation, and the Department of Homeland Security.

“The commission has long recognized that law enforcement, national security, and public safety concerns are part of its public interest analysis, and has accorded deference to the views of other U.S. government agencies with expertise in those areas,” Sofield said.

“After discussions and communications with representatives of the applicants...agencies have concluded that the additional commitments set forth in the agreement will help ensure that the agencies with responsibility for enforcing the law, protecting the national security, and preserving public safety, can proceed appropriately to satisfy those responsibilities.”

The DOJ clearance leaves only a few more steps for the deal to go through.

“The next step is the formal closing of the share purchase agreement executed last year,” said James Hofman, legal counsel for Docomo Pacific, a subsidiary of NTT Docomo.

The Public Utilities Commission has already granted conditional approval of the Docomo-MCV transaction, but the agreement will not be sealed until the FCC gives the green light.

Hofman could not say when FCC is anticipated to issue its final decision, but he said Docomo and MCV hope to finalize the deal “as soon as possible.”

According to the agreement signed on Aug. 27, 2012, Docomo Guam will acquire all of the stocks of MCV. Upon consummation, MCV and its subsidiaries will become wholly owned subsidiaries of Docomo Guam.

“No name change is planned at this time,” Hofman said. “The two companies will continue to operate as they have been, providing customers with excellent products and services.”