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NEW YORK, May 23 (Reuters) – Sprint Nextel and
SoftBank Corp 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.
