DOJ clears Softbank's acquisition of Sprint Nextel

The U.S. Department of Justice said it has no objection to Softbank acquiring Sprint Nextel, a decision that clears the way for the Federal Communications Commission to rule on the deal.

In January, the Justice Department, including the Federal Bureau of Investigation, asked the FCC to defer action on the proposed buyout so it could further study the deal. The Department of Homeland Security joined in on the request. In a letter to the FCC, the DOJ said it was withdrawing the request for more time. "The Agencies have reviewed the information provided by the Applicants and analyzed the measures undertaken by the Applicants to address potential national security, law enforcement, and public safety issues, including supply chain issues. Based on this review, the Agencies hereby notify the Commission that they have no objection to the grant of the applications," the letter said.