$20B SoftBank-Sprint Deal Clears National Security Hurdle

Law360, New York (May 29, 2013, 4:56 PM EDT) -- SoftBank Corp.'s proposed $20.1 billion takeover of Sprint Nextel Corp. has passed the Committee on Foreign Investment in the U.S.' national security test, the companies announced Wednesday, after the committee determined the deal free of international privacy concerns.

The CFIUS has given Sprint and SoftBank the green light to move forward with the deal, which would give Japanese telecommunications giant SoftBank a 70 percent stake in Sprint. The companies said they had reached an agreement with the CFIUS to clear the transaction, which still needs approval...
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