By Zvi Bar:According to the Nikkei newspaper, Softbank Corp (SFTBF) and (SFTBY), Japan's third largest mobile phone company, is in talks to buy a controlling stake of Sprint Nextel (S) for more than 1 trillion yen, or about $12.8 billion. Softbank replied to certain media coverage by stating that:
TOKYO (Reuters) - Japanese mobile phone carrier Softbank Corp is in talks to buy more than two-thirds of U.S.-based telecoms company Sprint Nextel Corp , Japanese public broadcaster NHK said on Thursday. (Reporting by James Topham; Editing by Edmund Klamann)
(TOKYO) — Tokyo-based mobile phone company Softbank Corp. has reached a deal to acquire 70 percent of U.S. wireless carrier Sprint Nextel for $20.1 billion in the largest ever foreign acquisition by a Japanese company.
Japanese mobile phone company Softbank has announced it has agreed to buy 70 percent of Sprint Nextel for $20 billion. The deal would make Sprint Nextel a tougher competitor against its bigger vivals, Verizon Wireless and AT&T.» E-Mail This » Add to Del.icio.us