Japanese Softbank Taking 70 Percent Stake Of Us Carrier Sprint For 20B
As rumored last week, Japanese Softbank has taken a controlling 70 percent stake in Sprint according to CNBC: Softbank will buy $8 billion worth of shares directly from Sprint and tender for another $12 billion worth of the shares from existing holders. (Update: Confirmed by Sprint) The deal will allow Sprint to purchase the half of Clearwire that it does not already own, according to the report. Softbank expects to take use of its expertise in LTE networks to bolster Sprints position in the market....