DOJ clears Softbank's acquisition of Sprint Nextel

The agency has dropped a request for more time to review the proposed deal

The U.S. Department of Justice said Friday it has no objection to Softbank acquiring Sprint Nextel, a decision that clears the way for the Federal Communications Commission to rule on the deal.

In January, the Justice Department, including the Federal Bureau of Investigation, asked the FCC to defer action on the proposed buyout so it could further study the deal. The Department of Homeland Security joined in on the request.

In a letter to the FCC on Friday, the DOJ said it was withdrawing the request for more time.

"The Agencies have reviewed the information provided by the Applicants and analyzed the measures undertaken by the Applicants to address potential national security, law enforcement, and public safety issues, including supply chain issues. Based on this review, the Agencies hereby notify the Commission that they have no objection to the grant of the applications," the letter said.

The proposed deal, in which Japan-based Softbank would invest about $20 billion in Sprint and acquire 70 percent of the company's shares, has drawn some objections from lawmakers and others who claim it might harm national security. But the Committee on Foreign Investment in the United States cleared the acquisition late last month.

Softbank's plan may face a steeper hurdle in the form of Dish Network's offers to buy Sprint for about $25.5 billion or to buy Clearwire, Sprint's network partner. Sprint owns half of Clearwire, and acquiring the rest of the company is expected to be a key component of Softbank's plan.

Stephen Lawson covers mobile, storage and networking technologies for The IDG News Service. Follow Stephen on Twitter at @sdlawsonmedia. Stephen's e-mail address is stephen_lawson@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags governmentmobileregulationMergers and acquisitionsbusiness issuestelecommunicationsprint nextelU.S. Department of JusticeSoftbankCarriers

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service
Show Comments

Cool Tech

Breitling Superocean Heritage Chronographe 44

Learn more >

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?