Dan Hesse, President & CEO Sprint Nextel Corporation during his keynote presentation at CTIA WIRELESS (Photo credit: TechShowNetwork)
By Jay Alabaster – Japan‘s Softbank said Monday (Oct 15) it has reached a deal to acquire a 70 percent stake in U.S. mobile operator Sprint Nextel for US$20 billion, forming one of the world’s largest telecom operators.
The companies said the deal would allow aggressive Softbank to expand into the U.S. market and become a global force, with the new, combined entity becoming the third-largest operator in the world by revenue. The deal will also provide $8 billion in new capital to Sprint for its network and to shore up its finances.
“It’s going to open up opportunities for us both internally and externally that we haven’t had since I have been here at Sprint,” Sprint CEO Dan Hesse said at a news conference in Tokyo. more> http://tinyurl.com/8p4r2pq
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