The Department of Justice has written a letter to the Federal Communications Commission asking it to "defer action" on the agreement Sprint Nextel made with mobile operator SoftBank. That deal proposes selling 70% of Sprint to the Japanese company for $20 billion.
The DOJ letter dated Jan. 28 states that it, along with the Federal Bureau of Investigation, and "with the concurrence of the Department of Homeland Security," need more time in which to review the pending buyout for any "national security, law enforcement, and public safety issues."
The request does not give an expected date for the completion of the law enforcement agencies' review.
The article DOJ Asks FCC to Put Hold On Sprint/SoftBank Decision originally appeared on Fool.com.Dan Radovsky has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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