NEW YORK (AP) — Sen. Charles Schumer is urging regulators to "use extreme caution" when reviewing the proposed acquisition of No. 3 cell carrier Sprint Nextel by Japan's Softbank. The Japanese company uses Chinese networking equipment, which Schumer says could open up U.S. networks to snooping and hacking.
The New York Democrat sent letters to the Treasury Department and Federal Communications Commission, both of which are reviewing Softbank's offer to buy 70 percent of Sprint for $20.1 billion. Satellite TV broadcaster Dish Network has a competing, $25.5 billion offer.
Softbank has offered to remove the Chinese-made equipment in Sprint Nextel Corp.'s network. It hopes to close on the deal on July 1.