Japan's Softbank says it will complete its deal with Sprint on July 1st, despite Dish offer
If Softbank were to turn around and walk away, it would end up considerably richer for its efforts. A convertible bond that Softbank bought from Sprint could be sold for a $1 billion profit, and if Sprint decides to go with Dish or another suitor or even if it merely walks away, the Japanese communications firm would receive a $600 million break-up fee. Judging from Softbank's statement though, it plans on closing the deal and its a message to Dish that the Japanese firm is not going to back down.
This will also impact the situation with wireless wholesaler Clearwire, which on Friday received an offer believed to be from Verizon, to lease spectrum in major markets for $1.5 billion.
1. drum009 (Posts: 33; Member since: 23 Jan 2012)
As a Sprint customer I would rather have Softbanks leadership over dish. Although I might break my contract in may and switch to T-Mobile. Better coverage in my area :)
2. simplyj (Posts: 404; Member since: 23 Dec 2009)
So you would prefer all your money going to Japan instead of the United States? That's what will happen if Softbank does buy 70% of Sprint.
5. sp_5015 (Posts: 5; Member since: 16 Apr 2013)
Since when do American companies pay corporate taxes?? I'd bet that Softbank would end up paying more US taxes than Dish would...
8. drum009 (Posts: 33; Member since: 23 Jan 2012)
Ummm..... sure, why not??? I've been giving my money to sprint for a decade. What have I been given in exchange? (I don't expect anything other than usable service)
How does sprint help my local community?
What causes do they donate too???
Japan has a different culture and different values.... idk anything about those though :)
9. snowgator (Posts: 3160; Member since: 19 Jan 2011)
A little to 1970's for my taste. Here in this century, the global economy does not remove that concern, I still buy American made products as the choice allows me, but it is as minimized as much as possible on this level. The most American made vehicles are not the Big 3 (as a matter of a fact, Chrysler is a foreign owned business now), but the Toyota Camry. One of just several examples of foreign businesses investing huge in America's economy.
If Softbank invests in Sprints footprint, builds out a LTE system, and floods the US with Sprint support and advertising, US jobs will be created by the hundreds. That will be good for all of us and them.
13. Mxyzptlk (Posts: 2846; Member since: 21 Apr 2012)
How is that a bad thing? Why leave it in the US for it to be wasted?
3. mrraider602 (Posts: 19; Member since: 27 Mar 2013)
Yup...I've been a Sprint customer for 7 years and been patiently waiting for improvement. Seriously considering T-Mobile when my contract is up in September.. as T-Mobile just lit up the Phoenix valley with LTE. So whoever buys Sprint you have til September to convince me to stay!!
6. TheRequiem (Posts: 107; Member since: 23 Mar 2012)
You won't need to switch, I'm a technial operative for Sprint's new network and Phoenix/ Las Vegas markets are under full-scale redux. Every tower in the whole Pheonix Valley is being upgraded and there are already dozens of tower's done. However, LTE has not been switched on yet, I'm certain by September you will notice some considerable improvements. Sprint's new network is using some of the most advanced technology in the world right now.
12. JEverettnow (Posts: 139; Member since: 11 Mar 2013)
I too work for sprint however in my area there is no LTE even though a lot of cabinets have been installed. In the Bay Area LTE is turned on in about 20% of the area however it runs slower than HSPA usually. I average around 5mbps on LTE there. Is this due to the fact that it isn't running at full power? Any idea when LTE in sacramento will be on? As a tech I am getting tired of telling people there is nothing wrong with their phone its just 15-150kbps on 3g is normal in this area. I tell most people we should see improvements by the end of 2013, but that doesnt make them any happier lol
14. mrraider602 (Posts: 19; Member since: 27 Mar 2013)
I hope so..I've been using E4GT since it launched and have been charged for wimax 4g thats never been available to me here in the valley of the sun! I just dont want to commit another two years and pay for LTE that wont be available when I upgrade hopefully to the Note 3!
16. KFear (Posts: 135; Member since: 06 Feb 2012)
This is very true. With this softbank deal and some of their recent investments....Sprint is ready to bring out the best! Yes, i know they are digging themselves out of a HUGE hole. WIMAX was a set back, but other than that I really think Sprint is headed in the right direction. Once LTE is rolling in your town, it might be a good time to switch to Sprint.
15. jbash (Posts: 339; Member since: 07 Feb 2011)
fortunately the unoffical lte in Va Beach has been a pleasant surprise. average between 20-40meg. unforetunately this will prolly come to a crawl when more users take advantage of the upgrade. i was in dc using sprint lte and i had 2 megs best at any time while my wifes wimax hummed along between 6-12 megs. since i am no longer a tech for them i will prolly take my business elsewhere soon as i figure out the next phone that wows me while on a descent network.
18. thenoodge (Posts: 32; Member since: 01 Sep 2011)
sadly in va beach thats not sprint even with the lte we have i still get missed calls that never rang just voicemail
4. htc_prep (Posts: 303; Member since: 09 Oct 2009)
i agree @drum009. from the sounds of it dish intended to utilize Sprints infrastructure to roll into a bundled package to take on Surewest and AT&T (home internet and mobile). i cant see too much going into improving Sprints network from Dish since they have no experience.
Softbank, on the other hand, I can see better results from. not only can I see better world wide roaming prices, a more diverse portfolio of devices (hopefully water proof with TV tuners built in, a staple of smart phones in japan), i can also and more realistically see, actual help from another experienced telecom co to beef up network and speed up LTE development...
not saying fact just my humble opinion.
10. drum009 (Posts: 33; Member since: 23 Jan 2012)
Thanks, those are some of my sentiments as well. Softbank has a good track record with being competitive and aggressive. Something sprint could use with Verizon and at&t dominating the market.
Japan is also a leader when releasing new technology. If some of that can come to sprint alot faster because of their ownership, the better for USA sprint customers.
7. snowgator (Posts: 3160; Member since: 19 Jan 2011)
Boy, this could be am interesting little soap opera before it is over....
11. Droid_X_Doug (Posts: 5289; Member since: 22 Dec 2010)
It all depends on how badly Dish wants Sprint. Stay tuned.