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DOJ, FBI, DHS Clear SoftBank's Acquisition of Sprint

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Jun 7, 2013, 5:46 PM by Eric M. Zeman

Sprint today announced that the U.S. Department of Justice, Federal Bureau of Investigation, and Department of Homeland Security have fully cleared SoftBank's proposed equity acquisition of Sprint. The transaction has also been approved by the Committee on Foreign Investment in the U.S., with the conditions that Sprint allow the government to elect a member of the board (which it did today), allow the government to veto telecommunications equipment purchased, and divest Chinese-made networking gear. The deal has already been greenlighted by the Securities and Exchange Commission. The transaction may now be assessed by the Federal Communications Commission. "As we indicated last week, the national security review of the transaction is completed and there are no unresolved national security issues relating to the transaction," said Vonya B. McCann, senior vice president of Government Affairs at Sprint. "We look forward to the Commission's prompt completion of its public interest review."

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