Sprint Nextel continues working its way through state regulators to...
Sprint Nextel continues working its way through state regulators to gain approval of holding company management changes. The changes are a result of Softbank acquiring majority control of Sprint in October. The acquisition called for multiple changes on the holding…
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company level involving the entities Starburst I and Starburst II. The Virginia Corporation Commission granted Sprint Nextel, Sprint Communications of Virginia and Starburst II additional time in the review of the companies’ Nov. 29 joint petition for approval of indirect transfer of control of Sprint Communications of Virginia to Starburst II. The Wednesday order (http://xrl.us/boa8hj) extends the period of review another several weeks until Feb. 27. Sprint Communications of Virginia gave the commission a letter Wednesday (http://xrl.us/boa8ig) showing which jurisdictions have approved the proposed transfer. The list shows 22 states and the District of Columbia have granted varying levels of approval. Sprint reported approval, pre-approval or, if no approval necessary, the appropriate notice given in 11 of these jurisdictions: Colorado, Delaware, District of Columbia, Georgia, Indiana, Louisiana, Nebraska, Nevada, Ohio, South Dakota and Texas. Sprint promised the New York State Public Service Commission the changes will be “seamless” late last year (CD Nov 26 p9).