The U.S. Department of Justice said Friday it has no objection to Softbank acquiring Sprint Nextel, a decision that clears the way for the Federal Communications Commission to rule on the deal.
Privacy groups and some lawmakers are in an uproar after news reports this week that the U.S. National Security Agency is conducting broad surveillance of the nation's residents.
The tug-of-war over Clearwire looks set to continue for at least another two weeks as the struggling mobile operator postponed a special shareholder meeting once again to consider Dish Network's latest bid.
The U.S. Federal Communications Commission should cap the participation of carriers AT&T and Verizon Wireless in upcoming spectrum auctions to ensure mobile competition going forward, representatives of consumer groups and smaller carriers said.
Dish Network has boosted its bid for Clearwire to US$4.40 per share, 29 percent above Sprint Nextel's most recent offer, and said it is prepared to buy up the stock of a minority of shareholders.
Government panel the Committee on Foreign Investment in the United States (CFIUS) has given its approval for Japanese mobile carrier SoftBank to acquire a majority stake in Sprint Nextel in a US$20 billion deal.
SoftBank has received all the necessary state approvals for the Japanese mobile carrier to acquire a majority stake in Sprint Nextel for US$20 billion, the companies announced.
The U.S. government is in negotiations with SoftBank for greater control over equipment purchases by Sprint Nextel and the selection of one of the Japanese company's nominee to the U.S. carrier's board, according to a news report.
Sprint Nextel has increased its offer to buy out Clearwire, bidding US$3.40 per share, to counter a competing offer by Dish Network.
Sprint Nextel said it had received permission from SoftBank to negotiate a rival acquisition offer from Dish Network.
The major U.S. mobile operators are all putting their weight behind a campaign against texting while driving that will include a blitz of advertising and a driving simulator touring the country this summer.
Sprint Nextel's network partner Clearwire hasn't been able to find any other big wholesale customers nor sell any of its spectrum, so selling out to Sprint is the only real option for its shareholders, the company said Monday.
Dish Network chairman Charlie Ergen said Wednesday that his is an American company, and the modernization of Sprint Nextel's network will have to be done from the U.S. with operations control in the country, and English speaking staff.
Softbank's CEO, in a battle with Dish Network to acquire U.S. mobile operator Sprint Nextel, slammed a US$25.5 billion offer made by Dish, saying it is based on "imaginary" numbers and would create a company with "insane" amounts of debt.
Intel has backed SoftBank's bid for Sprint Nextel, citing that the deal would bring needed competition in the wireless space in the U.S.
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