DOJ asks FCC to halt review of Sprint/Softbank deal2013-01-30 09:35 by DanielaTags: Sprint, Softbank
Sprint's acquisition by the Japanese Softbank may be delayed due to "national security, law enforcement, and public safety" concerns. The Justice Department, FBI and Department of Homeland Security asked the Federal Communications Commission to give them time to complete an assessment of the transaction's national security and law enforcement implications, according to a filing posted yesterday on the FCC's website. Dan Hesse, Sprint's chief executive, and Masayoshi Son, his counterpart at SoftBank, acknowledged these security concerns when the deal was announced in October and gave an assurance that the company would not use equipment from Huawei, the Chinese network equipment maker, that has been the focus of security concerns in the US. However, Sprint and Softbank have urged the FCC to approve the deal, arguing that the deal is in the public interest and will increase U.S. wireless competition. The companies have told the FCC that the deal "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." Read more -here-
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