Japanese SoftBank acquires 70% of US Sprint for $20.1 billion

Japanese SoftBank acquires 70% of US Sprint for $20.1 billion

In a press event today, Japanese carrier SoftBank officially announced it is acquiring 70 percent of US carrier Sprint for $20.1 billion. The money will be spent on both newly-issued shares ($8 billion) as well as on existing ones ($12.1 billion).

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In a press event today, Japanese carrier SoftBank officially announced it is acquiring 70 percent of US carrier Sprint for $20.1 billion. The money will be spent on both newly-issued shares ($8 billion) as well as on existing ones ($12.1 billion).

This comes as a breath of fresh air for Sprint, as the company had plans to invest around $3 billion dollars in its LTE network.

The…




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