Datamation Logo

Japan’s Softbank to Acquire 70% of Sprint

October 15, 2012
Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

The third largest U.S. wireless carrier will soon have a new owner. Japan-based Softbank has announced plans to purchase a 70 percent share of Sprint Nextel for approximately $20.1 billion.

According to a Reuters report by Mari Saito and Tim Kelly the $20.1 billion price tag sets a record as “the most a Japanese firm has spent on an overseas acquisition.”

CNBC’s David Faber reported, “The transaction calls for Softbank to buy $8 billion worth of shares directly from Sprint at a price of $5.25 each and tender for another $12 billion worth of the shares from existing holders at a price of $7.30 a share, a large premium to Sprint’s current price. Given the deal’s structure, it will not require a shareholder vote.”

The Wall Street Journal’s Daisuke Wakabayashi And Kana Inagaki noted, “The deal would transform Softbank, a relative newcomer in the telecommunications industry, into one of the world’s largest telecom groups with about 90 million subscribers when combined with Sprint. It expects to complete the deal by mid-2013.”

In The New York Times, Michael J. de la Merced and Neil Gough observed, “Shares in Sprint have risen 14 percent since the wireless company confirmed on Thursday that it was in negotiations with SoftBank, closing at $5.73 on Friday.”

  SEE ALL
ARTICLES
 

Subscribe to Data Insider

Learn the latest news and best practices about data science, big data analytics, artificial intelligence, data security, and more.

Datamation Logo

Datamation is the leading industry resource for B2B data professionals and technology buyers. Datamation's focus is on providing insight into the latest trends and innovation in AI, data security, big data, and more, along with in-depth product recommendations and comparisons. More than 1.7M users gain insight and guidance from Datamation every year.

Advertisers

Advertise with TechnologyAdvice on Datamation and our other data and technology-focused platforms.

Advertise with Us

Our Brands


Privacy Policy Terms & Conditions About Contact Advertise California - Do Not Sell My Information

Property of TechnologyAdvice.
© 2025 TechnologyAdvice. All Rights Reserved

Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.