FCC Close to Approving SoftBank Bid for Sprint

Mignon Clyburn, the Acting Chairwoman of the Federal Communications Commission, told her fellow commissioners to prepare to vote on SoftBank’s proposed takeover of Sprint Nextel. The deal would see SoftBank purchase 78 percent of Sprint and Sprint acquire the remaining shares of mobile-broadband provider Clearwire that it doesn’t already own. The vote could come as early as June 28. Apparently, vote is likely to end in approval for the transaction without any mandated spectrum divestitures.