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Sprint Confirms Softbank Talks

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Sprint reportedly agrees to sell 70 percent stake to Softbank

by Haggard    Oct 14, 2012, 4:31 PM

Sprint Nextel has reportedly reached an agreement to sell 70 percent of the wireless carrier to Japanese mobile carrier Softbank for $20 billion.

Both companies' respective boards have approved the deal, which is expected to be announced tomorrow, sources tell CNBC. Under the deal, Softbank will buy $8 billion in stock directly from Sprint, with another $12 billion purchased from existing stockholders.

http://news.cnet.com/8301-1035_3-57532094-94/sprint- ... »

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