August 29, 2014

CNBC: Japanese carrier SoftBank to acquire 70 percent stake in Sprint

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Japanese carrier SoftBank is expected to announce a $20 billion deal on Monday which will see them controlling a 70% stake in Sprint.  CNBC is reporting that the deal is all but wrapped up and comes hot on the heels of rumors that surfaced just last week.  Well, hardly rumors, when you consider that Sprint came out and said that the two were in talks.  The deal, which has been accepted by the boards of both companies, amounts to approximately $8 billion worth of shares from Sprint and another $12 billion from its shareholders.