Slow your roll, Sprint! The Department of Justice has stepped in and filed a request for the FCC to defer approval of the Sprint/Softbank Merger. The DOJ said it was “currently reviewing this matter for any national security, law enforcement, and public safety issues.” The deferral request should be seen as a plea for more time rather than condemnation of the proposal. The FBI and Department of Homeland Security are also taking part in the review.
An FCC hold will likely push the completion of the deal past the mid-2013 goal Sprint and Softbank stated back in October. It will also delay Sprint’s snail-paced, but growing, LTE rollout. Remember Softbank, Japan’s largest wireless provider, is bringing the green in this acquisition: $20.1 billion ($12.1 billion in cash consideration & $8 billion in capital).
Source: The Verge