Wednesday, July 10, 2013

Softbank's $21.6 billion acquisition of Sprint is complete

Finally, the saga is over. All but a formality once the FCC approved, Softbank has merged with Sprint, and will own about 78 percent of shares in the new Sprint Corporation, while current Sprint equity holders will own about 22 percent. Initially announced last fall, things were suddenly complicated when Dish made its own bid for Sprint and Clearwire in the spring. But, that challenge faded, regulatory hurdles were cleared, Clearwire shareholders approved Sprint's buyout and here we are, with Dan Hesse staying on as CEO of Sprint, and Softbank's Masayoshi Son taking over as the chairman of the board of directors. The plan is for this to result in a "stronger, more competitive Sprint," although we'll have to wait and see if that happens all of the details are in the press release after the break.

Filed under: , ,

Comments

Source: Sprint

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/1Qf6PGGIRYU/

marilyn monroe MAC Cosmetics The Voice Results Miss USA 2013 Daytime Emmy Awards 2013 Danielle Bradbery kate spade

No comments:

Post a Comment