Sprint Seeking More Cash
Sprint today announced that it plans to sell notes in a bid to raise more cash. According to Sprint, any proceeds derived from the sale of notes will be put toward network expansion and modernization efforts, its pension program, and other general corporate purposes. Sprint didn't say when it will sell the notes, nor how much it is looking to raise. SoftBank recently paid Sprint more than $20 billion for a large equity stake in the company. Sprint recently launched Sprint Spark, an effort to speed up its LTE network, and continues to deploy LTE around the country.
Sprint to Sell Certain Network Assets for $2.2 Billion
Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers.
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.
Sprint Woes Weigh on SoftBank CEO Masayoshi Son
SoftBank's plans for Sprint have not unfolded as CEO Masayoshi Son hoped. Son initially believed a merger with competitor T-Mobile would serve the carrier, but was dismayed when U.S.
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.
20 billion from Softbank. . .not enough?
Hey, I'm seeking more cash too!
"its pension program, and other general corporate purposes"