Softbank Purchases 70% Share In Sprint

It appears that the rumors may be more than true regarding the Japanese investment in the Now Network. Multiple sources are reporting that the deal is done and Softbank has acquired a 70% share of the nation’s 3rd largest carrier. The deal which involved purchasing $8 billion in stock directly from Sprint and $12 billion in stock via additional shareholders is expected to be announced Monday.

The offering of $7.30 per share is well above market value and does not require any shareholder votes due the the way the deal was structured. If the deal is announced Monday, this will leave AT&T Wireless as the only US owned major carrier.

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