Sprint investors vote for bid

Shareholders of Sprint Nextel voted in favour of a sweetened takeover offer from SoftBank yesterday, ending a contentious takeover battle for the number three US wireless service provider. Japan’s SoftBank, which fought Dish Network to buy Sprint, now just needs approval from the Federal Communications Commission, the US telecoms regulator, to close the deal. According to Sprint, about 80 per cent of its shares outstanding were voted in favour of the $21.6bn (£14bn) deal that would leave SoftBank with 78 per cent ownership of the company. Sprint said it was sticking by its target for the deal to close in early July.