Monday, October 15, 2012

Softbank to buy 70 percent of Sprint for $20 bln

Softbank Corp. President Masayoshi Son, left, and Sprint Nextel Corp. Chief Executive Dan Hesse shake hands during their joint press conference in Tokyo Monday. Tokyo-based mobile carrier Softbank has reached a deal with Sprint to acquire 70 percent of the U.S. wireless company for $20.1 billion in the largest ever foreign acquisition by a Japanese company.