ElReg wrote:FCC approves SoftBank's acquisition of Sprint
The $21.6bn acquisition of (the US mobile phone company) Sprint by Japan's SoftBank is now a go: as expected from rumors earlier this week, the FCC (a US regulatory entity) has ruled unanimously to approve it.
"Today is a good day for all Americans who use mobile broadband services," acting FCC chairwoman Mignon Clyburn said in a statement accompanying the lengthy ruling. "After thorough review, the Commission has found that the proposed Softbank-Sprint-Clearwire transactions would serve the public interest."
Clyburn expressed her opinion that the merger would be "likely" to speed mobile broadband roll-out, enhance competition and innovation, and drive consumer prices down. "In addition," she said, "the order finds that the indirect foreign ownership of Sprint complies with Section 310 of the Communications Act."
Thanks to the FCC's approval, Sprint can also move forward with its $3.7bn acquisition of the remaining shares in Clearwire, an acquisition that will help SoftBrint (SpriBank?) compete against AT&T and Verizon due to the much needed spectrum that the deal will bring with it.
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Today is a good day for all Americans who use mobile broadband services
Is the mobile communications market in the USA so bad that Softbank is seen as a good thing!?