Report: FCC has approved Softbank's Sprint and Clearwire deals

SoftBank Corp.'s $21.6 billion bid for mobile carrier Sprint Nextel Corp. has won the support it needed from the FCC, according to people familiar with the matter.

Two of three members of the FCC have reportedly signed off on the deal. That approval extends to Sprint's buyout of mobile broadband provider Clearwire.

"This clears a hurdle, so it's almost finalized," said Masamitsu Ohki, a fund manager at Stats Investment Management Co., a hedge fund in Tokyo. "The acquisition makes sense to fulfill Son's expansion strategy."

Sprint shareholders last week voted in favor of SoftBank's bid to acquire a 78-percent stake in the U.S.'s third- largest wireless provider. With the quick approval from the FCC, it appears the companies' prediction of a finalized deal by July will come true.

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