Japanese Carrier Softbank To Buy Majority Stake In Sprint

This has been quite the year for US carrier, and it’s not stopping now. First it was the failed AT&T/T-Mobile merger, then T-Mobile decided to merge with MetroPCS. Now Japanese carrier Softbank has confirmed that they will be purchasing a majority stake in Sprint. Softbank will be purchasing a 70% share in Sprint, totaling $20 billion.

Of those shares, $12 billion will be purchased from the public shareholders, with the other $8 billion coming from Sprint. The deal will not require a vote due to the structure it’s being done. Softbank will be officially announcing the deal tomorrow, where it is expected to be officially closed.

The carrier game just got much more interesting, and Sprint could get some financial backing they sorely need from this deal. What do you think? Does Sprint need someone to watch over them?

Business Insider

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