Softbank Corp is now in the running to provide American with wireless and broadband telecommunication services. This announcement followed after the approval of the Federal Communications Commission for Softbank's bid to buy Sprint Nextel Corp.
FCC Acting Chairwoman, Mignon Clyburn commented, "Today is a good day for all Americans who use mobile broadband services. "The increased investment in Sprint's and Clearwire's networks is likely to accelerate deployment of mobile broadband services and enhance competition in the mobile marketplace, promoting customer choice, innovation and lower prices."
The FCC announced that the US$21.6 billion Softbank-Sprint Nextel deal is in the public's interest. The FCC also approved of the Sprint offer to buy half of the share that they did not yer own for wireless operator Clearwire Corp.
The Softbank bid stands to boost Sprint as a competitor to Verizon Wireless and AT&T as the nation's biggest mobile carriers.
SoftBank Chairman and Japanese billionaire Masayoshi Son said in a statement, "SoftBank's investment in Sprint will bring innovation and increased customer focus, which will enable us to begin creating a true competitor in a market dominated by two companies."
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