Clearwire shareholders also finally approve buyout by Sprint

Update: Clearwire has just released an official statement as well regarding its agreement to be purchased by Sprint, indicating that the minority shareholders of the company "overwhelmingly approve" the transaction. 82-percent of the shares not affiliated with Sprint or SoftBank cast their votes in favor of the transaction, finalizing a deal that will have Sprint buy all shares of Clearwire it does not already own for $5.00 per share.

Original: Following regulatory approval of the merger by the FCC, SoftBank has released a statement today indicating that its strategic investment of $21.6 billion (JPY 1.8 trillion) in Sprint is expected to close on July 10th, 2013. While this isn't a complete confirmation, SoftBank feels it is confident enough in the timeframe to release an official statement. The deal will mark a huge investment, giving the Japanese carrier a 78-percent stake in Sprint and hopefully bringing new life into the nation's third-place challenger.

We can expect Sprint and SoftBank to quickly put the money to work on furthering its LTE rollout, as well as its overall network improvements. Together with new spectrum from the shutdown of its iDEN network and finally securing Clearwire's assets, Sprint certainly has a lot going for it.

Source: SoftBank; Clearwire