WASHINGTON, July 5 The Federal Communications
Commission on Friday announced its official approval of two
related deals by Sprint Nextel Corp, SoftBank Corp
and Clearwire Corp.
The regulatory approval was the last hurdle for SoftBank's
$21.6 billion bid to buy 78 percent of Sprint, the No. 3 U.S.
wireless provider. Sprint's bid to buy out the portion of
wireless company Clearwire that it doesn't already own faces a
vote by minority shareholders on July 8.
"Today is a good day for all Americans who use mobile
broadband services," FCC's Acting Chairwoman Mignon Clyburn said
in a statement. "After thorough review, the Commission has found
that the proposed Softbank-Sprint-Clearwire transactions would
serve the public interest."
The FCC had the votes needed for approval on Wednesday,
sources familiar with the matter told Reuters.