Softbank to buy 70% of Sprint for $20 billion
CNBC reporter David Faber adds that his sources continue to insist that Sprint is continuing to work on a deal to purchase Clearwire. Back in 2008, both firms partnered on the WiMAX 4G service that Sprint had decided to drop in order to start building its LTE network, which is now in 24 metropolitan areas.
Meanwhile, the two U.S. carriers directly underneath Sprint, T-Mobile and MetroPCS, have agreed to a reverse merger in which publicly held MetroPCS will acquire the larger T-Mobile. Using the reverse merger will allow the combined company to have shares instantly, which it can use for further acquisitions and also gives the combined firm instant credibility. Sprint was rumored to have considered a bid for MetroPCS before the Softbank deal came along.
source: CNBC, BusinessInsiders via AndroidCentral
1. axllebeer (Posts: 268; Member since: 05 Apr 2011)
So its really going to happen then. Let's hope this works out to benefit the end user.
2. XPERIA-KNIGHT (unregistered)
"What will Sprint CEO Dan Hesse's future be with a Softbank controlled Sprint?"
Good question, what is he going to revert too?
3. tigermcm (Posts: 815; Member since: 02 Sep 2009)
hmmmm does this mean we can get some WP8s? please before christmas
4. JunitoNH (Posts: 1181; Member since: 15 Feb 2012)
What this means is.......................the end of unlimited data is on the horizon. Softbank is going to make sure Sprint is competative and on par with the rest of the carriers. You have been warned.
7. Bernoulli (Posts: 2199; Member since: 01 Sep 2012)
Hai! LocoChon-sama lol dude this is the best thing for sprint considering their rough position