Government panel the Committee on Foreign Investment in the United States (CFIUS) has given its approval for Japanese mobile carrier SoftBank to acquire a majority stake in Sprint Nextel in a US$20 billion deal.
SoftBank has received all the necessary state approvals for the Japanese mobile carrier to acquire a majority stake in Sprint Nextel for US$20 billion, the companies announced.
The U.S. government is in negotiations with SoftBank for greater control over equipment purchases by Sprint Nextel and the selection of one of the Japanese company's nominee to the U.S. carrier's board, according to a news report.
Sprint Nextel has increased its offer to buy out Clearwire, bidding US$3.40 per share, to counter a competing offer by Dish Network.
Sprint Nextel said it had received permission from SoftBank to negotiate a rival acquisition offer from Dish Network.
Sprint Nextel's network partner Clearwire hasn't been able to find any other big wholesale customers nor sell any of its spectrum, so selling out to Sprint is the only real option for its shareholders, the company said Monday.
Dish Network chairman Charlie Ergen said Wednesday that his is an American company, and the modernization of Sprint Nextel's network will have to be done from the U.S. with operations control in the country, and English speaking staff.
Softbank's CEO, in a battle with Dish Network to acquire U.S. mobile operator Sprint Nextel, slammed a US$25.5 billion offer made by Dish, saying it is based on "imaginary" numbers and would create a company with "insane" amounts of debt.
Intel has backed SoftBank's bid for Sprint Nextel, citing that the deal would bring needed competition in the wireless space in the U.S.
Dish Network has made a US$25.5 billion bid to acquire wireless operator Sprint Nextel, hoping to edge out a rival bid from Japanese operator SoftBank.
Sprint Nextel and Softbank have pledged to keep Huawei Technologies products out of the Sprint network and try to replace Huawei gear that is already in Clearwire's network, according to a U.S. lawmaker.
Japan's Softbank will soon launch a new service around small GPS trackers that it will rent out to customers for a monthly fee.
Japan's Softbank has sold off a large portion of a local carrier it acquired just weeks ago, as it looked to assuage fears over its expanded control of Japan's wireless spectrum.
Japan's Softbank will soon offer a new satellite phone for use in earthquakes and other natural disasters.
Sprint Nextel has offered US $2.1 billion, or $2.90 a share, for the nearly one-half interest in mobile broadband firm Clearwire that the company doesn't already own.
Most Popular Reviews
- 1 Google Pixel XL full, in-depth smartphone review: Phones just got smarter
- 2 Sony X9300D and X8500D UHD 4K TV review
- 3 Hisense Series 7 ULED 4K UHD TV review
- 4 Moto X Force review: Leading features from a mid-range phone
- 5 Oppo F1s review: 2016 has another King of the Best Value phones
Join the PC World newsletter!
Latest News Articles
- Ex-NSA contractor hoarded two decades' worth of secrets
- Cloud growth continues to be the name of the game for Microsoft
- TravelBank uses machine learning to save businesses money on travel
- Indian banks replace millions of debit cards after possible breach
- Wipro is buying cloud consultant Appirio for US$500m
GGG Evaluation Team
First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.
- Google Pixel XL full, in-depth smartphone review: The new best Android phone
- Japan Robot, gadget and car expo slideshow
- Panasonic DX900U UHD 4K smart TV review: Best all-round TV ever?
- What's the difference between an Intel Core i3, i5 and i7?
- Laser vs. inkjet printers: which is better?
- FTSenior Architect | Perl | Linux |MySQL | Infrastructure | TelecomNSW
- FTData Governance Project Manager | 6 month ContractNSW
- FTSystems Engineer - Managed Service Provider - No two days are the sameNSW
- CCADABAS Database Administrator - NV1 clearedACT
- CCAcquisition Marketing Executive - B2BNSW
- CCChange Manager - Telco projectsNSW
- CCHead of Digital (Technology Manager - Digital Transformations)NSW
- CCE-Commerce - Senior Web DeveloperNSW
- CCBusiness Analyst - Telecom ProjectNSW
- CCeCommerce Project ManagerNSW
- FTOutbound TelesalesVIC
- FTLinux Systems AdministratorNZ
- FTHands-on Service Desk Team LeadNSW
- FTCustomer Solutions Engineer | Voice | Data | TelcoNSW
- FTTechnical Support Engineer | Cloud | Automation techsNSW
- CCDigital Solutions ManagerNSW
- FTOutbound TelesalesVIC