On Air Now

Listen

Listen Live Now » 101.9 FM Sioux Falls, SD

Weather

Current Conditions(Sioux Falls,SD 57104)

More Weather »
63° Feels Like: 63°
Wind: NW 26 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Scattered Thunderstorms/Wind 47°

Tomorrow

Partly Cloudy/Wind 67°

Thurs Night

Mostly Clear 39°

Sprint, SoftBank complete U.S. state regulatory review process

Softbank Corp's logo is pictured at its branch in Tokyo April 17, 2013. REUTERS/Yuya Shino
Softbank Corp's logo is pictured at its branch in Tokyo April 17, 2013. REUTERS/Yuya Shino

NEW YORK (Reuters) - Sprint Nextel and SoftBank Corp <9984.T> said on Thursday they had received all necessary state regulatory approvals for the Japanese company's proposed $20.1 billion purchase of 70 percent of Sprint.

The California Public Utilities Commission voted on Thursday to approve the deal, according to the companies, which said this was the final state approval required for the transaction.

The companies are still working with the Federal Communications Commission and other Federal government agencies reviewing the transaction, SoftBank and Sprint said.

Sprint, the No. 3 U.S. mobile service provider, is also reviewing a rival bid from Dish Network .

(Reporting By Sinead Carew)

Comments