SoftBank expects Sprint deal to be complete in 2 days

SoftBank expects Sprint deal to be complete in 2 days
SoftBank finally received clearance from the Federal Communications Commission (FCC) last week in its bid to purchase 70% of U.S. wireless carrier Sprint Nextel Corp. The FCC approval was the last hurdle in this long journey, so SoftBank is saying that things should move very quickly from here on. In fact, SoftBank expects the Sprint deal to be complete in just two days from now, on Wednesday July 10th.

SoftBank had originally put in a bid to purchase Sprint last year, but a competing bid from DISH complicated matters, until DISH finally dropped out of the running in order to focus its efforts on purchasing Clearwire, although even that plan seems to be falling through

SoftBank has agreed to pay $21.6 billion in order to acquire a 70% share of Sprint. 

source: Reuters

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8 Comments

1. a_merryman

Posts: 749; Member since: Dec 14, 2011

Hell yes. And they're going to be pumping $16 billion into network upgrades over the next two year!

2. johnbftl

Posts: 283; Member since: Jun 09, 2012

S&P just lowered SoftBank's rating as a result of the acquisition.

3. Maverick1

Posts: 26; Member since: Sep 30, 2012

LOL, no they didn't!

4. johnbftl

Posts: 283; Member since: Jun 09, 2012

5. ggudino

Posts: 12; Member since: Aug 25, 2012

I love it how even big successful blogs like phone arena report incorrect information as fact. When Softbank upped their bid, the % stake that they will have in Sprint jumped from 70% to 78%. Please do some research and stop being lazy.

6. ardent1

Posts: 2000; Member since: Apr 16, 2011

Perhaps, your criticism should be directed at the author -- Michael H. as opposed to everyone on phonearena.com Second, this is phonearena.com, and not "The New York Times" with a deep editoral staff filled with fact checkers. It's more of a case of being sloppy as opposed to being lazy.

8. ggudino

Posts: 12; Member since: Aug 25, 2012

So.. you are saying that you like reading articles in which the author may or may not know what they are reporting? Just because this is not a full corporate newspaper, does not mean that the author can't spend a few extra minutes researching what he/she is writing about before reporting it as news. Not doing this is being lazy and removes credibility from the author and site. The fact that this is still incorrect after it being pointed out is also lazy. I directed it at PhoneArena.com because last I checked, Michael H. is a part of PhoneArena.com and represents PhoneArena.com with each and every article that he writes for PhoneArena.com

7. Danalvi1981

Posts: 49; Member since: Jun 02, 2010

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