FCC approves Softbank bid for Sprint Nextel

Jul 05, 2013

The Federal Communications Commission says it approved Softbank Corp.'s bid for Sprint Nextel Corp.

The FCC gave thumbs up to the $21.6 billion deal on Friday, completing the U.S. government's review of the Japanese company's investment in Sprint. Softbank will have a 78 percent stake in Sprint, the third largest U.S. wireless carrier.

The FCC also approved Sprint's plan to buy the half of wireless operator Clearwire that it does not already own.

Softbank, based in Tokyo, has said it expects the Sprint deal to close this month, once it received FCC approval.

Sprint is based in Overland Park, Kan.

Explore further: Equinix to buy data center operator TelecityGroup for $3.3B

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.

Dish won't submit revised bid for Sprint

Jun 19, 2013

Satellite TV operator Dish Network Corp. said Tuesday it would not submit a revised bid for Sprint, leaving the path open for the wireless carrier to accept what it already considers a superior offer from Japan's Softbank.

Recommended for you

The top 10 highest-paid female CEOs

12 hours ago

Female CEOs are outpacing their male colleagues in pay, although they remain vastly outnumbered in the top echelons of American companies.

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.