DAVID GREENE, HOST: NPR's business news begins with a new wireless giant.</s>DAVID GREENE, HOST: Sprint Nextel, the nation's third largest wireless carrier, is about to be bought out by Japan's SoftBank. The deal was approved by Sprint shareholders yesterday.</s>DAVID GREENE, HOST: And as NPR's Wendy Kaufman reports, this should boost competition.</s>WENDY KAUFMAN, BYLINE: Right now, Sprint is a distant third in the U.S. wireless market. But with an infusion of cash and clout from Softbank, the carrier will be able to expand its high-speed network, and, it hopes, attract new customers.</s>WENDY KAUFMAN, BYLINE: Analyst Charles Golvin of Forrester Research says consumers stand to benefit.</s>CHARLES GOLVIN: Today it's very different for either Sprint or T-Mobile to really compete effectively with AT&T or Verizon - who have consolidated power over the last few years. So having a strong and viable third alternative is going to result in more choice and better pricing options for consumers.</s>WENDY KAUFMAN, BYLINE: Softbank's CEO Masayoshi Son is a maverick billionaire who has made no secret of his global ambitions; he hopes to turn his company in the world largest mobile carrier.</s>WENDY KAUFMAN, BYLINE: But taking on the U.S. mobile giants won't be easy. Together Verizon and AT&T control about 65 percent of the U.S. market.</s>WENDY KAUFMAN, BYLINE: Son has vowed to let Sprint continue its unlimited data plans, and he suggests that Sprint could offer consumers something beyond the lowest prices: faster speeds for example, and new services and products.</s>WENDY KAUFMAN, BYLINE: The deal is expected to win approval from U.S. regulators and the companies hope to complete the acquisition early next month.</s>WENDY KAUFMAN, BYLINE: Wendy Kaufman, NPR News.
Sprint Nextel shareholders have signed off on an offer from Japan's SoftBank to acquire a majority stake in the U.S. wireless carrier. The deal which is expected to be approved by U.S. regulators could bring more robust competition to the U.S. mobile market.