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Sprint Shareholders Approve SoftBank Deal

Jun 25, 2013, 10:37 AM by Eric M. Zeman

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 in favor of the proposal, with about 80% of Sprint's voting shareholders present. The deal already has approval from the Department of Justice, SEC, and other security agencies. It is now only awaiting approval from the Federal Communications Commission. "Today is a historic day for our company, and I want to thank our shareholders for approving this transformative merger agreement," said Sprint CEO Dan Hesse. "The transaction with SoftBank should enhance Sprint's long-term value and competitive position by creating a company with greater financial flexibility." SoftBank is confident that the deal will close next month.

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Cellular Phone

Jun 25, 2013, 2:49 PM

Good for Sprint.

I was hoping this deal would go through. Sprint badly needs the cash. Now that it has to answer to a parent company, I hope Sprint will be careful not to repeat the costly mistakes of its past.

Despite its flaws, Sprint is a good company and I don't want to see them go anywhere but up. I had their service in the past and their voice service is good, but their data service is sluggish.

I commend them on Network Vision, but I know some former Nextel users on here are not happy with Sprint DC. I hope the service will improve.

My own vision for Sprint is that it is able to recover from years of mess to establish itself as a major competiter to Verizon and AT&T.

Now if T-Mobile can get some help, that would be good too.

newfoneguy

Agreed. I was with sprint for a very long time but they did screw alot of people on the "4g" fee and never delivered. I do think that through this all hopefully the people in charge will think about what they messed up and hopefully this deal should b...
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