Business
6:11 pm
Mon October 15, 2012

Softbank Buys $20 Billion Stake In Sprint-Nextel

Originally published on Mon October 15, 2012 6:46 pm

Japan's Softbank has announced it will spend $20 billion to take a majority stake in Sprint-Nextel. The deal will provide Sprint, the third largest carrier in the U.S. market, with some much needed cash. It also gives Softbank the opening it's been looking for to break into the U.S. market.