SoftBank gets FCC approval to close acquisition of Sprint; Clearwire stockholders vote Monday

SoftBank gets FCC approval to close acquisition of Sprint; Clearwire stockholders vote Monday
Putting the final touch on an acquisition that started back in October, the FCC has officially signed off on SoftBank's purchase of 78% of Sprint. Sprint, in turn, will purchase the rest of the shares of network wholesaler Clearwire that it doesn't already own, and the FCC gave the green light for that deal as well. The Clearwire purchase though, still requires a stockholder vote set for July 8th. Sprint needs the majority of the minority holders to vote for the deal to complete the transaction.

The Japanese telco is paying $21.6 billion for the 78% stake in Sprint, and will add more money to beef up the third largest mobile carrier in the U.S. Sprint is currently in the process of building out its LTE pipeline which presently covers 110 markets. By the end of the year it hopes to cover 200 million POPs with its 4G LTE signal.


source: Sprint

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5 Comments

1. Mark.J.Linskiy unregistered

Yay!!

2. Daftama

Posts: 641; Member since: Nov 03, 2012

How long before the changes we will see hmm 10yrs

3. xtroid2k

Posts: 601; Member since: Jan 11, 2010

im glad this has happened

4. tiburonpineda

Posts: 40; Member since: Feb 27, 2012

Can't wait to see the end of this...i'm more than happy to come back to my Sprint my home.

5. tigermcm

Posts: 861; Member since: Sep 02, 2009

Im thinking about returning to sprint next year, continue our relationship of 11yrs

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