Softbank completes 70 percent Sprint acquisiton
- October 15, 2012
Within the last couple of weeks, it seems that there have been a series of rumors surrounding the possible buy-out of a 70 percent stake for Sprint ownership. Japanese company Softbank officially announced today that is indeed carrying on with the buyout. It seems the Japanese company is coughing up $12.1 billion for all of the current shares. It will be paying an additional 8 billion for the rest of the shares. In return for the deal, Sprint will be issued around $3 billion in cash. This will help Sprint once again regain control of Clearwire and finish its much intended LTE rollout. As Dan Heese took the floor he stated that all heavy investments made within the last year will bring fourth a "margin expansion" in 2014.
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