Sprint says panel clears proposed sale to Softbank

May 29, 2013

Sprint and Japan's Softbank say regulators haven't found any unresolved national security issues related to Softbank's proposed acquisition of Sprint.

The companies say the Treasury Department's Committee on Foreign Investment in the United States has completed its investigation and that they've entered into a National Security Agreement with the U.S. government.

As a result, Sprint and Softbank say they expect that the Department of Justice and the will soon notify the that they've completed their national security review.

Once that happens, the FCC can complete its review.

Softbank wants to buy 70 percent of Sprint for $20.1 billion. That deal is set to close in July, but Sprint also has received a $25.5 billion bid from Corp. for the entire company.

Explore further: NEC says swings back to profit after smartphone overhaul

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Sprint to listen to Dish offer

May 21, 2013

Wireless company Sprint Nextel Corp. says it can now let Dish Network Corp. see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan's SoftBank.

Recommended for you

How can Google snap its stock out of its stupor?

1 hour ago

Google has turned into a stock market laggard as the shift to mobile devices has lowered the Internet search leader's digital ad prices and the company's expensive investments in far-out technology has trimmed ...

Amazon surprises with profit despite fierce spending

11 hours ago

Amazon surprised the market Thursday with a quarterly profit far better than anticipated for the online giant known for pouring money into projects such as original video programs and delivery drones.

Smartphone Snapshot: Samsung getting squeezed

12 hours ago

The runaway success of Apple's newest iPhone has fueled a dramatic shift in the global market: the California tech giant is now neck-and-neck with South Korea's Samsung for the title of world's leading seller ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.