Reuters is citing an NHK report today that Japanese carrier Softbank (TSE:9984) is “in talks” to buy over two thirds of American carrier Sprint (NYSE:S) for $12.8 billion.
It was just last week when we saw the company acquire domestic rival eAccess for $1.84 billion.
Update: Softbank just issued a statement on the media reports:
The story about SoftBank and Sprint Nextel Corporation being reported is based on speculation. We have not announced anything. We do not comment on speculation.
Update 2: And now an update from Sprint that makes Softbank’s statement look kinda funny:
Sprint (NYSE: S) today confirmed that it is currently engaged in discussions with Softbank regarding a potential substantial investment by Softbank in Sprint. 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. Sprint does not intend to comment further unless and until an agreement is reached.
Update 3: And now Softbank has changed its tune after Sprint spoke out. I’m not sure how their talks are going, but its clear their PR departments aren’t cooperating yet! Softbank’s new statement on October 12:
SoftBank today confirmed that it is currently engaged in discussions with Sprint regarding a potential investment by SoftBank in Sprint. While the parties are engaged in discussions, no agreements have been reached.
The post NHK: Softbank in Talks to Buy More Than Two Thirds of Sprint appeared first on Tech in Asia.
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