U.S. based wireless company Sprint Nextel is set to be acquired by Japanese based SoftBank, after a bidding war which ended with the withdrawal of main competitor, Dish Network.

Sprint Nextel which is the third-largest wireless operator in the U.S. based on subscribers represents strong growth as well as a large entry into the U.S. market for the Japanese company.

Sprint recently moved to buy out its partner, paying $5 a share for the reminder of partner Clearwire’s stake.

The bid offer, which stands at $12.6 billion, now awaits shareholder approval and clearance for U.S. regulators.

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