SoftBank to Close Sprint Acquisition July 10
SoftBank today said that it expects to close its equity acquisition of Sprint Nextel on Wednesday, July 10. The deal received approval from the Federal Communications Commission last week, and Sprint shareholders at the end of June. The deal now has all the approvals necessary to move forward. SoftBank first proposed the 70% equity acquisition in October 2012.
SoftBank Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
Japan's SoftBank to Buy UK's ARM for $32 Billion
SoftBank today announced plans to buy ARM Holdings for $32 billion. SoftBank runs one of Japan's largest wireless networks and is the parent company of Sprint in the U.S., while ARM designs and licenses the Cortex-branded mobile processors often found in today's smartphones and tablets.
SoftBank Closes Acquisition of ARM
SoftBank has finalized its purchase of ARM Holdings. SoftBank runs one of Japan's largest wireless networks and is the majority parent company of Sprint in the U.S., while ARM designs and licenses the Cortex-branded mobile processors often found in today's smartphones and tablets.
SoftBank Invests Another $73 Million in Sprint
SoftBank has purchased yet more shares of Sprint stock, boosting its stake in the company to just over 80%. SoftBank shelled out $73 million for about 16.8 million shares.
SoftBank to Trim Thousands of Jobs at Sprint
Masayoshi Son, CEO of SoftBank, said the company plans to eliminate thousands of jobs at Sprint in order to reduce costs and aid in the company's turn-around plans. Son made the comments while discussing SoftBank's financial performance, which was impacted negatively by Sprint.