FCC approves Softbank/Sprint/Clearwire deal

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According to a recent Wall Street Journal report, the FCC has approved Softbank’s bid to merge with Sprint, and by extension Clearwire. The process started last year when Softbank and Sprint announced plans for the merger. Sprint also announced plans to acquire Clearwire using cash from the Softbank deal, as part of a strategy to increase their 4G LTE footprint in the U.S.

Since then, Softbank had to fight off a competing bid from Dish. Ultimately, Sprint stockholders approved the Softbank offer of $21.6B giving Softbank a 70% stake in the new company. With FCC approval, the companies will now be able to complete the merger and start moving forward with their develop Sprint into a much larger carrier, capable of competing with Verizon and AT&T.

source: TechnoBuffalo

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  • haymondpd

    I hope this means that Sprints 4G coverage can start tonrival the other big two. I am tired of being in areas where AT&T and Verizon have 4G coverage and Sprint still has onoy 3G. I am a loyal 12 year Sprint customer and would not leave for coverage issues but it starting to get tough.