Softbank buys 78% of Sprint as deal reaches its end
0. phoneArena 11 Jul 2013, 02:34 posted on
On Wednesday, Sprint and SoftBank announced the completion of the Japanese telecom company's purchase of 78% of Sprint for $21.6 billion; Sprint stockholders will receive $16.6 billion while $5 billion will be injected into Sprint. 72% of Sprint's common stock will be acquired by SoftBank for $7.65 in cash while the remaining shares are being converted into common stock of a new company called Sprint Corporation... Current Sprint holders were given the option for receiving a prorated amount of cash or 1 share in the new company for each Sprint share owned.
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2. Daftama (Posts: 562; Member since: 03 Nov 2012)
Please change the name sprint is old we need a new era
5. Doakie (Posts: 1101; Member since: 06 May 2009)
Yeah I was hoping that they would just rename and be called Softbank USA.
6. g2a5b0e (Posts: 2099; Member since: 08 Jun 2012)
Considering they have the slowest network, I completely agree. Unless, the name is meant to be ironic now.
3. Knicknevin (Posts: 135; Member since: 18 Mar 2011)
Did I read that right?
"72% of Sprint's common stock will be acquired by SoftBank for $7.65 in cash while the remaining shares..."
72% of the stock for 7 dollars and 65 cents!! what a great deal. I could've bid $8 and still come out on top!! I'm guessing it's a typo?