Sprint has received proposals from several banks with respect to financing a potential bid for smaller rival T-Mobile. No such deal has been announced, but as many as three banks have approached Sprint with offers to provide the needed capital. The Wall Street Journal reports that banks are looking at a total value for T-Mobile […]
The iPhone accounted for 76 percent of Japanese smartphone sales during the month of October, according to Kantar World Panel data. Specific reasons for Apple’s dominance are unmentioned, but are likely attributable to two factors. The first is the launch of the iPhone 5s and 5c on September 20th, since model refreshes always cause a […]
Sprint Nextel Corporation and SoftBank today announced the completion of their contentious merger with the revelation that SoftBank has invested approximately $21.6 billion in Sprint, consisting of approximately $16.6 billion to be distributed to Sprint stockholders and an aggregate $5 billion of new capital to strengthen Sprint’s balance sheet. Sprint stockholders voted to approve the […]
SoftBank today said that it expects to close its equity acquisition of Sprint Nextel on Wednesday, July 10. The deal received approval from the Federal Communications Commission last week, and Sprint shareholders at the end of June. The deal now has all the approvals necessary to move forward. SoftBank first proposed the 70% equity acquisition […]
The Federal Communications Commission will allow for the acquisition of Sprint by Softbank, according to a report. Members of the Commission have apparently voted on the purchase with two out of three commissioners voting for the deal, and all but effectively completes the $21.6 billion deal between the two carriers. Sources of Bloomberg state that […]
Sprint today announced that its shareholders have “overwhelmingly” approved SoftBank’s equity acquisition proposal. The vote held today had been delayed several times thanks to competing offers from Dish Networks. SoftBank recently upped its own offer for Sprint in a saga that has been unfolding since October 2012. Sprint said that 98% of today’s votes were […]
SoftBank CEO Masayoshi Son expressed confidence today that the company’s proposed equity acquisition of Sprint will be finalized next month. The company recently upped its bid for Sprint, and competitor Dish did not repsond with a new offer of its own. Sprint’s shareholders are set to vote on the proposal June 25. The deal has […]
Sprint and SoftBank today announced an amendment to their original merger agreement that makes the deal more attractive to current Sprint investors. Chiefly, SoftBank is upping the amount of cash it will pay to investors by $4.5 billion to a total of $16.64 billion. The amount of cash being pumped into the front-end of the […]
Sprint today indicated that it has reached an agreement with the Committee on Foreign Investment in the United States (CFIUS) regarding SoftBank’s proposed equity acquisition of Sprint. Per the National Security Agreement, CFIUS has agreed to approve the proposal, which means the Department of Justice, the Federal Bureau of Investigation, and the Department of Homeland […]
Dish Networks came out swinging in response to reports that Japan’s SoftBank will allow the U.S. to name a member to Sprint’s board of directors in its attempt to diffuse any worry about national security. “A Dish-Sprint will be better for national security by preserving domestic ownership, control and accountability over Sprint’s national wireless network […]
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