Deals involving Sprint, SoftBank and Clearwire rumored to have won FCC majority voteAlex Wagner - Editorial Director of News and Content
The deal between SoftBank and Sprint has been clearing hurdle after hurdle in the past couple of months, gaining approval from the SEC, Committee on Foreign Investment, Justice Department and even Sprint's shareholders. The last thing standing in the way of SoftSprint (SprintBank?) was the FCC, and it sounds like the transaction is going to clear that obstacle as well.
Sources speaking to Bloomberg claim that two of the three FCC commissioners have voted for the SoftBank-Sprint deal. The vote also covers Sprint's acquisition of Clearwire, which will see Hesse and Co. snapping up the remaining half of Clearwire that it doesn't already own.
There's been quite a bit of drama involving Sprint, SoftBank, Clearwire and Dish Network as of late, with the former trio of companies all agreeing to come together before Dish swooped in and tried to snatch up Sprint and Clearwire for itself. Dish ultimately decided to bow out of both bidding wars, though, meaning that we're basically back to where we started, save for the fact that SoftBank and Sprint will now be ponying up more cash than they'd originally intended. Now we just have to wait for the news concerning the FCC's vote to be made official, at which point I'm sure that that corks will be popped and champagne will begin flowing in Overland Park.