Insiders Say FCC Votes To Approve SoftBank Acquisition Of Sprint

A SoftBank store in Tokyo | Photo courtesy of Creative Commons
A SoftBank store in Tokyo | Photo courtesy of Creative Commons

SoftBank’s $21.6 billion bid for mobile carrier Sprint Nextel Corp. won the support it needs from the last U.S. regulatory body reviewing the transaction, people familiar with the matter told Bloomberg. The approval also covers Sprint’s offer to buy the half of wireless operator Clearwire Corp. it doesn’t already own. The approval sanctions a re-ordering in the U.S. market by boosting No. 3 Sprint, based in the Kansas City area, against larger rivals Verizon Wireless and AT&T Inc. as SoftBank’s billionaire founder seeks to create the world’s largest carrier.

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