SoftBank States the Sprint Deal Should Close In July

Posted by at 9:34 am on June 21, 2013

SoftBank CEO Masayoshi Son expressed confidence today that the company’s proposed equity acquisition of Sprint will be finalized next month.

The company recently upped its bid for Sprint, and competitor Dish did not repsond with a new offer of its own. Sprint’s shareholders are set to vote on the proposal June 25. The deal has received all the approvals necessary from the U.S. government with the exception of the Federal Communications Commission, which is still evaluating the deal’s effect on competition in the industry.

Sprint also recently gained an advantage over Dish with respect to Clearwire after raising its bid once more and winning approval from Clearwire’s board of directors. Once completed, SoftBank will own the bulk of Sprint and eventually Clearwire.

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