SoftBank has purchased yet more shares of Sprint stock, boosting its stake in the company to just over 80%. SoftBank shelled out $73 million for about 16.8 million shares.
Earlier this month, SoftBank made an $87 million investment in Sprint. The moves have helped Sprint’s stock price rally, increasing the company’s value by about $6 billion.
SoftBank believes Sprint’s turnaround plan will work and CEO Masayoshi Son said he sees the light at the end of the tunnel. Sprint recently fell behind T-Mobile in terms of subscribers.
