Sprint & SoftBank Clear a Foreign Review Hurdle
As part of this aspect of the transaction’s clearance, Sprint and SoftBank have entered into a National Security Agreement with the U.S. government. The National Security Agreement is effective as of the date of CFIUS clearance, but will terminate in the event that the merger agreement between Sprint and SoftBank is terminated.
Based on the CFIUS clearance of the proposed transaction, the parties expect that the “Team Telecom” agencies, which include the Department of Justice (including the Federal Bureau of Investigation) and the Department of Homeland Security, will notify the Federal Communications Commission that the agencies have completed their review of the transaction for national security, law enforcement and public safety concerns.
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