ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
5G networks

SoftBank awaits merger ruling with hopes to slash Sprint risk

Shares jump on FCC chief's endorsement but Justice Department still stands in way

The proposed merger between Sprint and T-Mobile US had won support recently from the Federal Communications Commission.   © Reuters

TOKYO/NEW YORK -- SoftBank Group looks one step closer to minimizing risks related to U.S. subsidiary Sprint, now that the chief U.S. telecommunications regulator issued a statement supporting the proposed $26 billion merger of the carrier with rival T-Mobile US.

Shares of SoftBank Group rose more than 3% during Tuesday trading in Tokyo after Federal Communications Commission Chairman Ajit Pai endorsed the transaction saying it would be "in the public interest." Sprint's stock price soared 19% on Wall Street on Monday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more