Leaderboard Ad

Trending Now

Sprint Discusses Possible Acquisition with Softbank

Feeling the need to boost its high-speed LTE network that falls behind Verizon and AT&T, Sprint is reportedly in talks with one of Japan’s largest wireless carriers of a possible takeover.

The third-largest carrier in the United States, with over 56 million subscribers, said that Softbank is considering a “substantial investment” in the company, which would give Sprint much-needed capital.

The announcement comes after reports that T-Mobile, owned by Germany-based Deutsche Telekom, would merge with regional carrier MetroPCS, which Sprint tried to take over earlier this year. If this deal gets approved, the fourth-largest wireless carrier will have as much as 42.5 million customers.

Meanwhile, reports said Softbank is considering buying a 75% share in Sprint, which could cost at least $12.8 billion.

“Although there can be no assurances that these discussions will result in any transaction or on what terms any transaction may occur, such a transaction could involve a change of control of Sprint,” the company said in a statement. “Sprint does not intend to comment further unless and until an agreement is reached.”

Source: Los Angeles Times

Photo credit: Kiyoshi Ota

Leave a Reply

Leaderboard Ad
Back to top