SoftBank Corp. (9984) cleared a U.S. security review of its proposed $20.1 billion purchase of Sprint Nextel Corp. (S:US), the Justice Department said, confirming a statement from the companies.
The department said it had “no objection” to the deal in a letter posted today on the Federal Communications Commission’s website. The FCC is the final U.S. agency reviewing the bid.
Dish Network Corp. (DISH:US) has made a $25.5 billion counteroffer for Overland Park, Kansas-based Sprint, the third-largest U.S. wireless carrier.
The FCC has gone beyond its 180-day goal for reviewing the SoftBank deal and faces no deadline for deciding whether to approve the purchase by the Tokyo-based company’s bid to jump into the U.S. market.
Dish, based in Englewood, Colorado, has urged the agency to delay any action on the SoftBank offer.
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