FCC approves Softbank's $21.6B acquisition of Sprint

The U.S. Federal Communications Commission has approved the $21.6 billion acquisition of Sprint by Japanese telecommunications group Softbank, saying it promises to bring consumers faster and more advanced wireless broadband Internet service. The go-ahead from the FCC was the final hurdle to Softbank consummating the deal. Sprint shareholders in late June approved the acquisition that will see Softbank pay $7.64 per share, for a total of $16.64 billion in cash, and invest about $5 billion of new...