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Softbank Gets State Approval for Sprint Buy

May 23, 2013 |
OVERLAND PARK, Kan. and TOKYO -- Sprint (NYSE:S) and SoftBank (TSE: 9984) announced today that the companies have received all necessary state regulatory approvals for their proposed transaction. This morning, the California Public Utilities Commission voted to approve the transaction, providing the final state approval needed for the transaction. The state applications were filed before a total of 23 states and the District of Columbia, beginning in November, 2012.

The companies continue to work closely with officials at the Federal Communications Commission and other Federal government agencies reviewing the transaction.

In its review of the transaction, the California Commission found that SoftBank’s investment in Sprint will lead to increased competition that “will benefit consumers and the telecommunications marketplace.”

SoftBank Corp.



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