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Sprint Asks FCC for Permission to Sell Itself to Softbank

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Nov 16, 2012, 11:43 AM   by Eric M. Zeman

Sprint has filed the necessary paperwork with the Federal Communications Commission seeking approval of its proposed partial acquisition by Softbank. Japan's Softbank is looking to acquire 70% of Sprint for $20.1 billion. The deal was announced earlier this year. According to Sprint, the transaction will spur investment and innovation in the wireless industry and will benefit consumers. Sprint also needs permission for Softbank to take a controlling interest in Clearwire, in which Sprint is the largest investor. Sprint and Softbank hope to close the deal by the middle of 2013. AT&T has cautioned that the FCC should look closely at the amount of spectrum that Softbank, a non-U.S. firm, will gain control of if the transaction is approved.

more info at Reuters »

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Subject Author Date
Nice title Tofuchong Nov 16, 2012, 2:24 PM
AT&T Dips Its Oar In tzsm98 Nov 16, 2012, 4:27 PM
WOW! Just how low will they stoop? MadFatMan Nov 17, 2012, 1:48 AM
Who didn't see this coming? Vmac39 Nov 16, 2012, 4:29 PM
 
 
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