By Brendan Sasso - 07/03/13 03:01 PM EDT
The order would also approve Sprint's acquisition of wireless network operator Clearwire, which owns the rights to valuable swathes of wireless frequencies.
The FCC approval is the final obstacle to the pair of telecom deals.
SoftBank's acquisition of Sprint could pump more money into the company and help it take on industry leaders AT&T and Verizon.
Dish Network had pushed its own competing proposals for both Sprint and Clearwire, but recently abandoned its bid.
Dish had warned that allowing SoftBank, a Japanese company, to own such large U.S. telecommunications networks would pose a threat to national security. Sens. Charles SchumerCharles SchumerReid: 'I have set the Senate' for nuclear option Immigration was barely covered in the debates GOP leaders advise members to proceed with caution on Trump MORE (D-N.Y.) and John McCainJohn McCainLots of (just) talk about 'draining the swamp' 56 memorable moments from a wild presidential race Is Georgia turning blue? MORE (R-Ariz.) also expressed concern about the SoftBank deal.
After SoftBank agreed to a series of concessions, an interagency panel cleared the deal of national security concerns in May.