FCC Chief Asks Agency to Approve Softbank Bid for Sprint...
The head of the last U.S. agency reviewing SoftBank Corp. (9984)’s bid for control of mobile carrier Sprint Nextel Corp. (S) recommended approval of the $21.6 billion deal.
Federal Communications Commission Acting Chairwoman Mignon Clyburn asked her two fellow commissioners to vote on the transaction that would give billionaire Masayoshi Son a position in the U.S. market, the agency said in an e-mailed statement.
The transaction would strengthen third-largest U.S. wireless carrier Sprint as a competitor to the country’s two biggest mobile carriers, Verizon Wireless and AT&T Inc. (T)
Wireless operator SoftBank, based in Tokyo, told the FCC its control of Sprint, based in Overland Park, Kansas, would bring more investments in the mobile network and innovative pricing.