Softbank to buy 70 percent stake in Sprint
Softbank and Sprint have reached a deal under which Softbank will pay $20 billion for a 70 percent stake in the wireless telecom operator, according to people close to the situation.
The deal is expected to be announced Monday morning and while certain details are still being worked out, the boards of both companies have signed off on a transaction under which Softbank will buy $8 billion worth of shares directly from Sprint and tender for another $12 billion worth of the shares from existing holders…