SoftBank Group is trading 7.6% up today at $15.43 after U.S. regulators approved its $4 billion acquisition of broadband provider WideOpenWest (WOW!).
- The FCC’s Wireline Competition Bureau granted authorization on July 27, giving SoftBank a rare majority stake in a U.S. internet operator.
- Investors are re-rating the stock as the deal expands SoftBank’s U.S. broadband footprint amid a broader market rebound in risk assets.