FCC OKs Sprint and Clearwire Deals

The Federal Communications Commission has unanimously approved both the acquisition of Sprint Nextel (NYSE: S  ) by Japan's SoftBank and Sprint's purchase of the remaining shares it doesn't already own of Clearwire (UNKNOWN: CLWR.DL  ) , Sprint recently announced.

While SoftBank's acquisition of Sprint received shareholder approval on June 25, Clearwire shareholders have yet to vote on Sprint's bid to purchase the wireless company, according to the release. The vote from Clearwire shareholders on Sprint's bid is expected on July 8 and has already been approved by Clearwire's board of directors.

In response to the FCC's approvals, Sprint CEO Dan Hesse commented, "Just two years ago, the wireless industry was at the doorstep of duopoly, but with these transformative transactions, we are one step closer to a stronger Sprint which will better serve consumers, challenge the market share leaders, and drive innovation in the American economy."

Both the SoftBank acquisition of Sprint and Sprint's bid to complete its purchase of Clearwire are expected to close in "early July 2013, subject to the remaining closing conditions," Sprint said.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2525014, ~/Articles/ArticleHandler.aspx, 9/26/2016 10:23:41 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 hour ago Sponsored by:
DOW 18,094.83 -166.62 -0.91%
S&P 500 2,146.10 -18.59 -0.86%
NASD 5,257.49 -48.26 -0.91%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
CLWR.DL $0.00 Down +0.00 +0.00%
Clearwire Corp CAPS Rating: **
S $6.65 Up +0.01 +0.15%
Sprint CAPS Rating: **