SoftBank: heard Sprint approval process moving smoothly

RetailReuters

SoftBank Corp President Masayoshi Son said on Tuesday that the company has heard from U.S. authorities that the approval process for its Sprint Nextel Corp deal is moving smoothly.

Son has said the U.S. regulatory review of the deal was on schedule and reiterated that the offer was on track to close by July 1.

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The deal has been challenged by a counteroffer from Dish Network Corp.

(Reporting by Mari Saito; Editing by Edmund Klamann)