FCC moves to approve SoftBank’s purchase of Sprint

by Brendan Sasso - 06/27/13 10:37 PM ET

{mosads}The FCC approval is the final obstacle to the pair of telecom deals.

Dish Network had pushed its own competing proposals for both Sprint and Clearwire, but recently abandoned its bid.

Dish had warned that allowing SoftBank, a foreign company, to own such large U.S. telecommunications networks would pose a threat to national security. Sens. Charles Schumer (D-N.Y.) and John McCain (R-Ariz.) also expressed concern about the SoftBank deal.

After SoftBank agreed to a series of concessions, an interagency panel cleared the deal of national security concerns last month.

Sprint shareholders voted to approve the deal earlier this week.

Tags Chuck Schumer John McCain