Wednesday, July 03, 2013

Softbank won majority FCC support on Sprint Bid

According to Bloomberg SoftBank has won the support that they need in the last U.S. regulatory meeting with the FCC. It wasn’t mentioned who voted for the deal but two of the three Federal Communications Commission members voted in favor of the deal. In the deal Softbank will pay Sprint $21.6 billion for Sprint to help expand in the U.S. markets. The additional capital will allow Sprint to further expand their Network Vision plans and provide more 4G LTE coverage throughout the country. Right now Sprint is in a distant 3rd place position in cellular coverage throughout the country, but with SoftBank funding them the tides could quickly change.