Justice Dept. Wants FCC to Defer Sprint-Softbank Review
The Department of Justice today asked the Federal Communications Commission to defer its review of Softbank's proposed 70% equity acquisition of Sprint. According to a letter sent to the FCC by the DoJ, it wants time to conduct its own review for any possible security concerns. The letter read, in part, "The Department of Justice, including the Federal Bureau of Investigation, with the concurrence of the Department of Homeland Security, requests that the Federal Communications Commission defer action on the above-referenced matter. DOJ, DHS, and FBI are currently reviewing this matter for any national security, law enforcement, and public safety issues but have not yet completed that effort. We therefore request that the Commission defer action until such time as the Agencies notify the Commission of the completion of their review and, based on the results of such review, request appropriate action by the Commission." Softbank, which offered $20.1 billion for a controlling stake in Sprint, is based in Japan. Sprint competitor AT&T last year warned that federal regulators should weigh giving control of so much U.S. spectrum to a foreign firm. The FCC has not officially responded to the DoJ's request.
Here you have it....
Softbank will obtain Sprint, Sprint will obtain Clearwire, AT&T and Verizon will be pooping bricks....
AT&T is worried
AT&T will do what ever it takes to slow, block, interfere with the growth of a competitor. They know this will significantly harm their business due to the enhanced, formidable competition.
A big plus for consumers however.
Has D.C. forgotten about T-mobile?
http://www.phonescoop.com/articles/discuss.php?fm=m& ... »
He pretty much answered some of the concerns. ;)