The US$20.1 billion acquisition of Sprint by the Japanese Softbank, which began in October 2012, received US government's national-security clearance, as reported by the Wall Street Journal on May 29. In the agreement reached with the US authorities, the new Sprint will establish a four-member security committee, including an independent security director sitting on its board. The committee members and the director will be approved by the US government and responsible for security matters. In addition, Sprint also agrees to decommission certain network equipment made by Chinese supplier Huawei by the end of 2016, and that the government will have oversight of the company's network equipment procurement and service providers. The takeover is still subject to the review by FCC (Federal Communications Commission) and the approval of Sprint's shareholders, with a vote set on June 12. SoftBank and Sprint expect that the merger will be finalized in July.