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FCC approves Softbank's $21.6B acquisition of Sprint
2013-07-08 16:55:08| InfoWorld: Top News
The U.S. Federal Communications Commission has approved the $21.6 billion acquisition of Sprint by Japanese telecommunications group Softbank, saying it promises to bring consumers faster and more advanced wireless broadband Internet service. The go-ahead from the FCC was the final hurdle to Softbank consummating the deal. Sprint shareholders in late June approved the acquisition that will see Softbank pay $7.64 per share, for a total of $16.64 billion in cash, and invest about $5 billion of new capital into Sprint. It will own 78 percent of the new company.
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Category:Information Technology