http://www.blogcdn.com/www.engadget.com/media/2012/10/softbank-spring-02-1350289289.jpg In a joint press conference, Softbank has officially announced that it is buying a 70 percent stake in US mobile carrier Sprint. The Japanese company is paying $12.1 billion to buy existing shares, and a further $8 billion for new shares that the network is issuing. CNBC reported previously that it would net Sprint around $3 billion in cash, which it could use to regain control of Clearwire and bolster its LTE rollout.
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Continue reading Softbank confirms 70 percent Sprint acquisition for $20.1 billion
Filed under: Cellphones, Wireless, Internet, Mobile, Sprint
Softbank confirms 70 percent Sprint acquisition for $20.1 billion originally appeared on Engadget on Mon, 15 Oct 2012 04:12:00 EDT. Please see our terms for use of feeds.
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