SoftBank gets state approval for Sprint acquisition

The California Public Utilities Commission is the final state to approve the 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.

On Thursday, California Public Utilities Commission voted to approve the transaction, giving the companies the final state approval needed for the transaction. The two companies filed applications in 23 states and the District of Columbia.

Still on the table for Sprint is a $25.5 billion counteroffer from Dish, a satellite TV service provider. This week, SoftBank gave Sprint permission to negotiate with Dish.

Still, Sprint and SoftBank appear to be moving forward with their deal. The companies continue to work with the U.S. Federal Communications Commission and other agencies on approval of the deal, they said in a press release. The two companies anticipate closing the deal by July 1, they said.

The California commission found that SoftBank's investment in Sprint will lead to increased competition that "will benefit consumers and the telecommunications marketplace," according to information from Sprint.

Grant Gross covers technology and telecom policy in the U.S. government for The IDG News Service. Follow Grant on Twitter at GrantGross. Grant's e-mail address is grant_gross@idg.com.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags mobileMergers and acquisitionsbusiness issuestelecommunication3g4gsprint nextelSoftbankDishCalifornia Public Utilities Commission

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?