Late last week NHK reported that Japanese carrier Softbank (TSE:9984) was in talks about acquiring American carrier Sprint (NYSE:S). A few humorous PR statements eventually confirmed that the companies were indeed engaged in discussions. And now today CNBC is reporting that Softbank and Sprint have struck a deal, citing ‘people close to the situation.’
According to the report, Softbank would purchase a 70 percent stake in Sprint for the price of $20 billion — $8 billion directly from Sprint and $12 billion from existing share holders. CNBC noted the deal could be announced later on Monday.
The post CNBC: Softbank Reaches Deal to Buy 70% of Sprint appeared first on Tech in Asia.