Softbank's bid for mobile service provider Sprint Nextel Corp won the support that it needs from the Federal Communications Commission. The bid was for US $21.6 billion.
Two out of the three members for the FCC voted for the deal between Softbank and Sprint. The offer covers Sprint's offer to buy the half of Clearwire Corp, another wireless operator, that it does yet own.
Shareholders for Sprint approved of the deal last June 25. Softbank, which is a Tokyo based telecommunication services company which operates fiber optic high speed internet and also operates ADSL or Asymmetric Digital Subscriber Lines. They also do Internet based advertising, auction and e-Commerce businesses,
Softbank won the bidding was for Sprint with Dish Network Corp as one of its top competitors. The satellite provider may turn its attention to another telecommunications giant, T-Mobile for its entry to the wireless industry.
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