Softbank in Advanced Talks to Acquire Sprint Nextel |
| Wall Street Journal - Oct 11, 2012 |
Japanese mobile carrier Softbank Corp. 9984.TO -1.37%is in advanced talks to buy a substantial stake in Sprint Nextel Corp., S +14.29%the third-largest U.S. network operator said Thursday.
The value of the deal could exceed $12.8 billion, a person with knowledge of the negotiations said.
Under the deal, Softbank would end up with roughly 70% of Sprint, with the remainder of the company publicly traded, people familiar with the matter said. The deal likely would involve a multibillion-dollar cash injection in exchange for newly issued shares and a tender offer to buy additional shares on the secondary market, the people said. Sprint has a market capitalization of $15 billion. The negotiations are continuing and still could fall apart, the people said.
A Softbank investment could help Sprint pay down debt, strengthen its balance sheet and allow the company to consider buying other carriers, the people said.
Read Full Article from Wall Street Journal
- Posted: 2012-10-11 17:04:51
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