Sprint has issued a formal press announcement pertaining to the details of the Softbank deal that was just finalized over the last few days. Details are still coming in and the carrier is in the midst of spelling things out however the general stuff is already known.
Once the transaction is completed, the company will be known as New Sprint and will operate out Overland Park, Kansas. New Sprint will have a board of directors that includes at least three members of Sprint’s current board of directors, including current CEO Dan Hesse. What’s more, Mr. Hesse will retain the CEO spot of the newly formed company.
Reading through the details of the Sprint announcement, one clearly sees the wireless provider is ready to learn from SoftBank and its successful LTE deployment. The two companies expect the merger transaction to be finalized at some point in the middle of 2013.