The FCC has reached two very important decisions for Sprint today. The commission has voted unanimously to approve all applications filed by Softbank, Sprint and Clearwire concerning the recent acquisition and investment news.
This means Softbank now has the green light to pour their 22 Billion into Sprint, and likewise Sprint has the go ahead to purchase the 49-percent of Clearwire that they don't already own. Shareholders at Sprint have already approved the Softbank merger, with 98-percent voting yes on June 25.Clearwire's shareholders are set to vote on the deal come July 8, and the Clearwire board has recommended the approval of the sale.
Executives at all three companies were naturally pleased at the FCC decision, stating that these deals will strengthen not only Sprint, but the wireless industry and the U.S. economy as a whole. The three companies hope to have the deals closed early this month. We'll be following to see what, if any, difference this makes for the customers, who have no board looking out for their best interests.
Source: Sprint newsroom
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