SoftBank President and CEO Masayoshi Son moved quickly to push his company's $32.1 billion deal to acquire ARM on Monday, urging analysts and investors at a London conference to "listen to the force." Noting that he is the company's largest shareholder, Son plugged the emergence of the IoT, saying investors should capitalize on a "paradigm shift" in technology as connectivity becomes ubiquitous.
Japan's SoftBank has agreed to acquire ARM Holdings in a $32.1 billion deal that would mark the biggest-ever purchase of a European technology company. What that might mean for Sprint, though, is far from clear.
SoftBank President Nikesh Arora said he will step down just 13 months after CEO Masayoshi Son essentially designated him as Son's successor.
Sprint parent SoftBank confirmed it will sell at least $7.9 billion of its stake in Alibaba to bolster its finances as its U.S. carrier continues to struggle.
SoftBank founder Masayoshi Son credited Sprint's dramatic budget cuts as helping raise SoftBank's operating profit by 8.8 percent in its recently completed fiscal year. But doubts about the U.S. carrier's ability to weather a brutal financial storm linger.
Japan's SoftBank said it would separate its domestic wireless business from its majority stake in Sprint and other overseas businesses.
Sprint Chairman Masayoshi Son plans to create a subsidiary of SoftBank that will accept some of the carrier's network gear and spectrum as collateral for billions in loans this year, as outlined in a new report from Bloomberg.
Sprint "is showing definitive signs of a turnaround," SoftBank Chairman Masayoshi Son said, according to Bloomberg. And its budget will continue to get leaner.
Sprint's struggles are beginning to take a toll on parent company SoftBank.
Sprint plans to cut thousands of more jobs as part of its effort to slash at least $2 billion in operating expenses from the business, according to Sprint Chairman and SoftBank CEO Masayoshi Son. Sprint CEO Marcelo Claure said he has been very direct with employees about the need to slash costs in a bid to get back to profitability, something Sprint hasn't really achieved in 11 years.