Sprint Nextel Corporation (S) And Softbank Merger Under DOJ Review

Sprint Nextel Corporation (NYSE:S) will have their prospective merger with Softbank Corp (PINK:SFTBF) delayed, according to news released today. The U.S. Department of Justice has requested that the Federal communications Commission delay the merger so that it has more time to review it.

The merger was announced last October, and both companies said, back then, that they hoped the merger would be approved by the middle of this year. After today’s announcement it appears that goal will not be met, and the Department of Justice review could even put a stop...