As expected and predicted, today the Federal Communications Commission approved the merger of American mobile company Sprint with Japanese mobile giant Softbank and broadband service company Clearwire. In its conclusion, the FCC writes, "approval of the proposed transactions, subject to the conditions set forth herein, is in the public interest." This comes just a week after Sprint shareholders gave the thumbs up for proceedings to go forward, and a few weeks after the US Department of Justice did the same. Further, the conclusion goes on to say that the deal has "public interest benefits that likely would result from the proposed transaction, and thus we conclude that the transaction is in the public interest."
The tri-company transaction is through the wringer of governmental bureaucracy, but still has to receive approval from Clearwire's shareholders; that decision is expected on July 8th, and its board of directors have reportedly recommended approval.
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Jul 10th 2013 6:18PM
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