FCC approves Sprint, Clearwire deals

News Wireless United States 8 JUL 2013
FCC approves Sprint, Clearwire deals
The Federal Communications Commission (FCC) has voted unanimously to approve the proposed transactions by SoftBank, Sprint and Clearwire. This decision completes all federal government reviews of both SoftBank's takeover of Sprint and Sprint's acquisition of Clearwire. Sprint's shareholders approved the SoftBank transaction in June and Clearwire's shareholders are scheduled to vote on the Sprint transaction on 8 July. Sprint, Clearwire and SoftBank anticipate that the transactions will close on 10 July. The operation will see Sprint pay around USD 7 billion to buy the shares it does not already own in Clearwire and Softbank pay USD 21.6 billion to buy 78 percent of Sprint.

Categories:

Mobile

Companies:

Sprint,  Clearwire,  FCC,  Softbank

Countries:

United States

Tags:

Regulations, M&A buyouts & divestments

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