SoftBank to increase its stake in Sprint; carrier signs deal with cable firm Altice USA
Talks between T-Mobile and Sprint ended when both carriers and their majority investors couldn't reach an agreement over which side would have control of the combined company. In the aftermath of the failed deal, SoftBank plans on increasing its ownership stake in Sprint from the current 82% to no more than 85%.
In July 2013, SoftBank announced that it had purchased 78% of Sprint for $21.6 billion, which included a $5 billion cash injection into the company. SoftBank beat out Dish Network for Sprint, as the satellite content provider bid $25.5 billion for 100% of the carrier. SoftBank eventually added additional Sprint shares bringing its current stake up to 82%.