If you haven’t been following the news, Japan carrier, Softbank, is looking to purchase
a majority stake in Sprint for $20 billion. Sprint has agreed to this, but before anything can become official, it needs to be cleared with various regulatory bodies, and for those who are looking forward to seeing this merger become official, you can cross off one regulatory body from the list. The government panel of the Committee on Foreign Investment in the US has given their approval for the bid, and according to them, they “found that there are no unresolved national security issues associated with SoftBank’s proposed acquisition of a controlling interest in Sprint.”
However along with their approval, there were some conditions attached, one of them being that Softbank and Sprint were required to appoint a security director who is approved by the US agencies that make up the CFIUS. This security director will serve on the new board of directors, and will help the US agencies review network equipment operators and service providers for Sprint. The deal has yet to be closed pending approval by the FCC, who was waiting for the national security review to complete before their own review.
Filed in Softbank and Sprint.
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