In a bit of good news, SoftBank has won long-
sought U.S. regulatory approval from the
Federal Communications Commission for U.S.
carrier Sprint’s merger with T-Mobile. SoftBank
owns a majority stake in Sprint. The merger
was delayed by anti-trust concerns and other
problems, including several lawsuits, but the
FCC approval clears that last hurdle.
SoftBank’s quarterly sales slipped 3% to 2.32
trillion yen ($21 billion) from 2.38 trillion yen
the same period the previous year.
SoftBank stock, which has dropped in value
in recent months, finished 0.7% higher on
Wednesday, at 4,322 yen ($40).