SoftBank Looking to Raise $18B with Wireless Unit IPO
SoftBank Group, the parent company of Sprint, is weighing whether or not to offer shares in its own Japan-based wireless company. Under the direction of CEO Masayoshi Sun, SoftBank has transformed itself in recent years into an investor in technology companies. The goal of the IPO would be to raise about $18 billion in funds so SoftBank Group could continue to invest in other entities. SoftBank Corp., the wireless company in question, is Japan's third-largest provider of wireless services behind KDDI and NTT DoCoMo. SoftBank is exploring a fall listing on the Tokyo stock exchange and may also list sales in London. The plans are not final and may change. The potential IPO should not impact SoftBank's ownership and management of Sprint. SoftBank also has large investments in Alibaba and ARM Holdings.
Jun 12, 2017
Essential Products has found a U.S. carrier to distribute its Essential PH-1 handset, and that carrier is Sprint.
Jun 21, 2017
Virgin Mobile USA, which is owned and operated by Sprint, transformed itself today into new provider much more closely aligned with the Virgin brand. Significantly, Virgin Mobile USA is now an iPhone-only carrier, meaning Apple's iPhones are the only phones Virgin will sell moving forward.
Aug 2, 2017
Microsoft today said the latest version of Skype for Android and iOS devices makes it possible to send funds to other Skype users via PayPal. Users will be able to send money through PayPal without leaving the Skype app.
Nov 3, 2017
T-Mobile has approached Sprint with a new proposal, reports the Wall Street Journal, in an attempt to keep the potential merger of the two companies alive. Talks failed earlier this week when Masayoshi Son, CEO of Sprint parent SoftBank, appeared to walk away from the deal over a disagreement concerning which company would own the other.