Softbank to pay $20 bil. to acquire 70% of Sprint Nextel

Softbank to pay $20 bil. to acquire 70% of Sprint Nextel

TOKYO, Japan - Softbank Corp. Chairman and Chief Executive Officer Masayoshi Son (L) shakes hands with Sprint Nextel Corp. Chief Executive Officer Dan Hesse at a news conference in Tokyo on Oct. 15, 2012. Softbank said the same day it will pay $20.1 billion to acquire a 70 percent stake in major U.S. cellular phone company Sprint Nextel in what will be one of the largest overseas acquisitions by a Japanese firm and creates the world's third-largest cellphone carrier by sales.

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  • ILEA001175756
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  • Kyodo / Kyodo News Images
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