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SoftBank Closes Equity Acquisition of Sprint

Jul 11, 2013, 7:57 AM by Eric M. Zeman

Sprint and SoftBank announced that they have completed SoftBank's equity acquisition of Sprint. The deal was first announced in October 2012 and received approval from the Federal Communications Commission as recently as last week. SoftBank paid Sprint shareholders $21.6 billion to gain approximately 78% of Sprint. Sprint's existing shareholders retain control over 22% of the company. The new publicly traded company is called Sprint Corporation. Dan Hesse remains at the new company's helm as CEO, though SoftBank's CEO, Masayoshi Son, will serve as Chairman of the Sprint Corporation board of directors.

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KOL4420

Jul 11, 2013, 10:20 AM

HUGE!

😁

Super excited to see Sprint take off!!! Cant wait to see what happens. 😁

I predict huge changes from Sprint all around. Lets see if they can capitalize. 🙂

floorguy

well lets hope so......

DarkStar

Well they are so crappy that they have no place to go but up. But that is good for customers. More competition is better for everyone.

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