Japan's SoftBank in talks to acquire 70% stake in Sprint Nextel
SoftBank Corp. was founded Sept. 3, 1981, with headquarters in the Higashi-shimbashi area of Minato-ku, Tokyo. Masayoshi Son is chairman and CEO. A deal is in the works for SoftBank Corp,. a Japanese telecommunications conglomerate, to acquire a 70 percent in Sprint Nextel, the number three mobile company in the United States, behind AT&T and Verizon. This could be the ship coming in for Sprint, as SoftBank will put $12.1 billion on the table to close the deal and then offer another $8 billion investment for network improvements. SoftBank is touting their expertise in the "next-generation wireless networks" and their experience with deployment of LTE in Japan. “This transaction provides an excellent opportunity for SoftBank to leverage its expertise in smartphones and next-generation high speed networks, including LTE, to drive the mobile internet revolution in one of the world’s largest markets," said SoftBank Chairman and CEO, Masayoshi Son. "Our track r...