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Sprint may be acquired by Japan's SoftBank

By Nick Todorov

Published: Oct 11, 2012, 6:52 AM

Sprint

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Sprint, the third largest wireless carrier in the U.S., may end up getting acquired by the Japanese cellular service provider SoftBank, according to sources familiar with the companies' plans. Reportedly, both carriers are already in "advanced talks" regarding the deal. SoftBank, which is currently the third largest carrier by number of subscribers in Japan, is aiming to acquire a two-thirds stake in Sprint. If the deal gets approved, it is estimated that it will cost an amount exceeding 1.5 trillion yen ($19,2 billion).

The news comes only days after SoftBank announced its plans to acquire one of its local competitors, eAccess. And now, as the carrier is aiming to expand its business into the U.S. market, some are looking at SoftBank's acquisition of Sprint as a massive gamble. The Japanese provider has made such significant moves in the past, such as its acquisition of the Japanese arm of Vodafone Group.

source: Reuters, Wall Street Journal

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