Archive | Sprint Nextel RSS for this section

Japan’s Softbank in advanced talks to acquire Sprint Nextel for $13 billion, sources say

“Japanese mobile carrier Softbank Corp. is in advanced talks to buy U.S. wireless carrier Sprint Nextel Corp. for roughly $13 billion, a person with knowledge of the negotiations said Thursday,” Daisuke Wakabayashi and Anton Troianovski report for The Wall Street Journal.

“It wasn’t immediately clear whether Softbank would buy all of Sprint, which has a market capitalization of $15 billion, or a two-thirds stake, the person said,” Wakabayashi and Troianovski report. “There was also no assurance the talks would result in a deal.”

Wakabayashi and Troianovski report, “Softbank’s deal with Sprint, the person said, would likely involve a multibillion-dollar cash injection and possibly a tender offer to buy shares on the secondary market. Then Sprint could use its stronger balance sheet to consider buying other carriers, the person said. One target could be Clearwire Corp., a wireless-broadband network in which Sprint already owns a large stake. Shares of Sprint and Clearwire jumped in morning trading. Clearwire owns large chunks of spectrum in the U.S. and is planning to start a next-generation network using TDD LTE technology. Softbank is working to build a similarly structured high-speed network.”

Read more in the full article here.

Follow

Get every new post delivered to your Inbox.

Join 119 other followers