Softbank has agreed to pay $20.1 billion to acquire a 70 percent stake in Sprint Nextel, the companies announced Monday. The deal will be the largest outbound acquisition by a Japan-based company since at least 2000, assuming it goes through.
It is seen as a way for Softbank to grow overseas as its local market declines, and it could help Sprint, which has seen serious customer erosion, undergo a necessary turnaround. This deal could be the move both companies need to remain relevant, even if there are growing pains to overcome.
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Softbank Gives Sprint a $20B Shot in the Arm
Posted by: Peter Suciu October 15, 2012 02:21 PMSoftbank has agreed to pay $20.1 billion to acquire a 70 percent stake in Sprint Nextel, the companies announced Monday. The deal will be the largest outbound acquisition by a Japan-based company since at least 2000, assuming it goes through.
It is seen as a way for Softbank to grow overseas as its local market declines, and it could help Sprint, which has seen serious customer erosion, undergo a necessary turnaround. This deal could be the move both companies need to remain relevant, even if there are growing pains to overcome.