Published on July 11th,2013 at 11:32 AM
By >Yoriko

SoftBank – Completed to acquire America’s 3rd-largest mobile carrier, Sprint Nextel Corporation

SoftBank - Completed to acquire America's 3rd-largest mobile carrier, Sprint Nextel Corporation

SoftBank today announced the completion of acquisition of the America’s 3rd-largest mobile carrier, Sprint Nextel Corporation.

SoftBank spent $21.6 billion to gain 78% of the new Sprint’s shares. In accordance with the transaction, Sprint has been renamed Sprint Communications, Inc., and Masayoshi Son, Chairman & CEO of SoftBank became Chairman of the Sprint Corporation.

SoftBank said that they plan to invest approximately $16 billion in new Sprint for their LTE network during the next 2 years to make them competitive with Verizon and AT&T.

Via SoftBank
Category Announcement
              
SoftBank – Completed to acquire America’s 3rd-largest mobile carrier, Sprint Nextel Corporation
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Comments
 

  • http://www.pozland.com Pozzy

    That’s not a good thing, just means that now people on Sprint are going to be treated like second-class-citizens when they walk through the doors if the service is anything like it is in Tokyo Softank.

    • e.g.

      not even close, brother.. Sprint has the nicest Service people.. all of them.. they keep that company alive… They keep surprising me too.. to bad for you..

 

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