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Press Release
SoftBank to Acquire Majority of Sprint-Nextel
Contact: Timothy Karr, 201-533-8838
WASHINGTON -- On Monday, Japanese wireless provider SoftBank announced that it would acquire a 70 percent stake in Sprint Nextel.
Free Press Policy Director Matt Wood made the following statement:
"Sprint offers consumers a competitive alternative to Verizon and AT&T's overpriced wireless services. Sprint and its partner Clearwire also facilitate the important low-priced and free offerings of many other small wireless competitors, including mobile virtual network operators like FreedomPop and Credo Mobile. These alternative carriers buy capacity from Sprint and Clearwire and it’s unclear how this deal will impact this important segment of the market.
"SoftBank's investment in Sprint could be a net positive for consumers, but only if Sprint deepens its commitment to its wholesaling and competitive pricing strategies. However, in the long run this deal and other mergers cannot fix the structural barriers to competition that plague the U.S. wireless market. We need bold policies from the Federal Communications Commission that will usher in real competition, fair prices and innovative services."
