Softbank

Controlling interest in Sprint Nextel has been purchased for $20.1 Billion by the Japanese mobile operator, Softbank. The announcement came today at a Tokyo press conference and represents the largest overseas acquisition by a Japanese firm.

Softbank will invest $20.1 billion into Sprint with $12.1 billion to be distributed to Sprint Stockholders and $8 billion of new capital to strengthen Sprint's balance sheet and fund efforts to expand Sprint's network reach.

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