The FCC should approve Softbank’s acquisition of majority control of...

under which the Japanese telco would buy 70 percent ownership of Sprint for $20.1 billion (CD Oct 16 p1). The deal will not harm the U.S. wireless market, the companies said. “To the contrary, the transaction is expected to greatly stimulate wireless competition and innovation. It offers the potential to transform the U.S. wireless marketplace by creating a more vibrant rival to compete with today’s two predominant wireless providers, Verizon Wireless and AT&T.” Sprint is the No. 3 U.S. carrier, while T-Mobile is fourth. Softbank’s infusion of capital will help Sprint improve its own finances, while also allowing the carrier to “increase its network investment, accelerate its broadband deployment across multiple spectrum bands and improve its coverage,” the filing said. The deal will let Sprint provide a wider array of devices and services to customers, and will allow the carrier to take advantage of “other market opportunities to enhance its ability to provide superior service to its customers,” the filing said. The companies are also filing applications to transfer Sprint’s anticipated control of Clearwire’s spectrum licenses to Softbank, which “by virtue of its acquisition of an approximately 70 percent indirect interest in Sprint, also will indirectly acquire Sprint’s interest in Clearwire,” the filing said.