Softbank Acquires 70% of Sprint for $20 Billion

Posted October 14, 2012 at 11:51pm by iClarified | Please help us and submit a translation by clicking here | 7092 views

Softbank, a Japanese cellphone carrier, has acquired a 70% stake in Sprint Nextel for $20 billion, reports BusinessInsider.

The deal is expected to be announced Monday morning and while certain details are still being worked out, the boards of both companies have signed off on a transaction under which Softbank will buy $8 billion worth of shares directly from Sprint and tender for another $12 billion worth of the shares from existing holders.

The price of the tender offer is $7.30 a share, a large premium to Sprint's current price. Given the deal's structure, it will not require a shareholder vote.

More details on the acquisition can be found at the link below...

Read More

Add Comment
odedo1 - October 15, 2012 at 10:10am
those antennas are microwaves antennas point them down to a building instead of a satellite and you cook everybody in the building which will never happened but competition is always good when a new player is in town usually the prices go down like they did here now we pay $10 for unlimited everything and no more contracts which before we paid up to $100 with a contract and there was a 1000 minutes talking and texting limits and 2.5GB surfing limit a month, well no more Free phone of your choice $10 a month and everybody is happy. I really hope they do the same in the states and I might come back home.
MikeB - October 15, 2012 at 1:23pm
Where? What currency is $10? Yeah you're right competition is great but sometimes new companies bring new rules. Hope this is not one of those cases.
MikeB - October 15, 2012 at 5:57am
I hope this doesn't mess with my current unlimited plan which I love.
JoeBlow - October 15, 2012 at 2:51am
Technologically, how is that done? Nuclear bombs mounted on cellular towers? U r such an idiot!
Jccisse - October 15, 2012 at 3:21am
You're the smartest hehehe
Timmy O-Toole - October 14, 2012 at 11:59pm
Japan will be using Sprint's cell towers as mounting points for their nuclear weapons to make the USA extinct and send the world back hundreds of years in time. [-_-] konichuwa
Jccisse - October 15, 2012 at 2:50am
Very possible...
Joeblow - October 15, 2012 at 2:52am
Possible? Explain how? Idiots
Follow iClarified
Samsung Galaxy S6 Edge Plus and Samsung Galaxy Note 5 Leaked [Photos]
Photos of the Samsung Galaxy S6 Edge Plus and...
August Smart Lock Now Works With Your Apple Watch
The August Smart Lock app has been updated to...
First Photos of the iPhone 6s Force Touch Display Leaked?
The first photos of the Force Touch display f...
Apple Watch Fails to Reach Supplier 'Break-Even Volume' of 2 Million Per Month
Apple Broke Off Talks With BMW to 'Explore Developing a Passenger Car on Its Own'