The FCC gave the Sprint Nextel-Soft deal the green light as they collected the final vote for the approval of the merger.

The deal was given the go signal as the all three of the FCC (Federal Communications Commission) members voted in favor of the Sprint Nextel-Softbank merger. The approval extended to Sprint's related bid to buy shares that they do not yet own in the wireless company, Clearwire Corp.

Based on filing from the FCC, Sprint-Clearwire and Softbank expressed interest to close both deals by July 8 or latest July 9.

Softbank's investment in Sprint will help it pay for the network upgrade and to step up the competition for the number 1 slot against rival providers AT&T and Verizon.

The US$21.6 billion deal from Softbank would mark the largest overseas acquisition by a Japanese company.

Softbank Founder, Billionaire Masayoshi Son seeks to extend and expand its sales and coverage beyond the mature Japanese cellphone market.