Andre Yoskowitz
25 Jun 2013 20:29
Today, Sprint shareholders approved SoftBank's updated $21.6 billion deal for a 78 percent controlling stake in the company.
Eight months after their initial bid for the U.S.' third largest carrier, and a slight bidding war with satellite provider Dish Network, it appears that one of Japan's largest wireless carriers will finally get their long wanted presence in the U.S.
SoftBank has already received three out of four regulatory approvals needed and is waiting for final approval from the U.S. Federal Communications Commission (FCC).
Shareholders overwhelmingly voted for the transaction, with 96 percent favoring the deal.
"We are pleased to have the support of Sprint shareholders," SoftBank said in an e-mailed statement. "We look forward to receiving FCC approval and promptly completing the transaction so that we can begin implementing our plans to deploy an advanced Sprint network that supports innovative devices and service packages tailored to the rapidly expanding mobile needs of U.S. consumers."