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Japanese Carrier Softbank Seeks Majority Stake in Sprint at the Cost of $12.5 Billion

Move over T-Mobile and MetroPCS, there are bigger moves being made today. This morning, news broke that Japanese carrier Softbank is looking to acquire a controlling stake of Sprint at the cost of a whopping $12.5 billion.

As for Softbank’s plans for Sprint and how they intend to incorporate one of America’s largest networks into their Japanese network is still unknown, but this morning Sprint confirmed that the deal is in “advanced talks.” 

11 October 2012
Sprint Confirms Discussions with Softbank on a Possible Transaction

OVERLAND PARK, Kan. (BUSINESS WIRE), October 11, 2012 – Sprint (NYSE: S) today confirmed that it is currently engaged in discussions with Softbank regarding a potential substantial investment by Softbank in Sprint. Although there can be no assurances that these discussions will result in any transaction or on what terms any transaction may occur, such a transaction could involve a change of control of Sprint. Sprint does not intend to comment further unless and until an agreement is reached.

What this spells for Sprint is still unknown and we will be awaiting more details as they come to light.

Via: WSJ, Engadget

  • a.youth.in.Asia

    Why didn’t they just ask Obama for a bailout?

  • http://www.facebook.com/people/Chris-Robson/1317522018 Chris Robson

    Maybe this would help Sprint build up their network to be worth switching to from Verizon.

  • bitpimpin

    This should be fun… softbank uses TD-LTE for their 4G just like sprint (or if I’m not mistaken their baby clear wire) is trying doing up in like the 2100-2500 range or something like that… I hope this will help them get a huge jump on that

  • http://twitter.com/kanagadeepan Kanaga Deepan N

    12.5 Billion$, the amount given by Google for Motorola Mobility and its patent… Really a very huge amount… Let us wait and watch the consequences…

  • Pedro

    It’s a shame Googs doesn’t have $12.5B sitting around.
    Now what did they do with that?

    • chris125

      I don’t think google would have bought them even if they had the money( which they do). For one gsm would be much easier to deal with not to mention if they got in the carrier business I could see the other carriers not liking that much at all and straining the already strained relationship it has with some of the carriers.

  • http://www.facebook.com/profile.php?id=10602828 Mike Hilal

    Sprint Global LTE?

    • Cowboydroid

      We can dream…

      • michael arazan

        OMG, could you imagine getting download speeds that they have in Japan and korea, if they could apply this to sprint? Imagine an average of 80 mb down

  • KleenDroid

    Goodness Gracious

    • will bartlett

      great balls of fire

      • tesseract

        LOL.