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DOJ Asks FCC To Hold Softbank/Sprint Decision

Washington — The Department of Justice has asked the Federal Communications Commission (FCC) to delay its decision on Softbank’s plan to acquire control of Sprint Nextel Corp, according to published reports. 1/30/2013 04:31:00 AM Eastern

Washington — The Department of Justice has asked the Federal Communications Commission (FCC) to delay its decision on Softbank’s plan to acquire control of Sprint Nextel Corp, according to published reports.

Under the terms of the deal, Softbank will spend $21.1 billion to acquire its 75 percent stake and provide Sprint with $8 billion to enhance its network and strengthen its balance sheet.

The deal was also initially protested by Dish, although it later reversed its position on the merger.