Japanese operator Softbank will purchase 70 percent of Sprint Nextel (NYSE:S) in a deal valued at $20.1 billion. The move could change the competitive lanscape of the U.S. wireless market by strengthening Sprint financially.
Softbank's bid for control of Sprint comes as the U.S. wireless industry remains in a state of flux. Deutsche Telekom's T-Mobile USA agreed to acquire flat-rate player MetroPCS (NYSE:PCS), which many analysts see as the German company trying to hasten its exit from the U.S. market.
The Fierce editorial team will be covering the announcement from every possible angle in the hours and days ahead. We will update this page with all the relevant headlines from the deal. Stay tuned to this page for complete coverage.
Here are some key slides from Sprint and Softbank's investor presentation, made Oct. 15.
Here is a video of the event:
See below for all of Fierce's coverage of this news:
Report: Sprint has no plans to acquire Clearwire, for now
October 16, 2012 | By Phil Goldstein
Following Softbank's announcement that it plans to purchase 70 percent of Sprint Nextel for $20.1 billion, speculation started to rapidly swirl about whether Sprint would buy partner Clearwire. According to a Bloomberg report citing unnamed sources, Sprint has no immediate plans to do so. Article
Entner: Softbank's purchase of Sprint could make it a bandwidth powerhouse
October 16, 2012 | By Roger Entner
The New Sprint will have all the tools that it needs to transform the U.S. wireless industry. A good leadership team, new Japanese ideas to use to innovate the market, enough money to be flexible, and the option to buy Clearwire and become the spectrum and bandwidth powerhouse in the United States. Industry Voices
Analysts: Softbank's deal with Sprint benefits U.S. wireless market
October 15, 2012 | By Phil Goldstein
Softbank's proposed $20.1 billion deal to acquire 70 percent of Sprint Nextel will allow Sprint to better compete against Verizon Wireless and AT&T Mobility and will benefit the wider U.S. wireless market, analysts said. Article
Sprint will play a $20.1B role in Softbank's LTE vision
October 15, 2012 | By Tammy Parker
Japan's Softbank is making a a $20.1 billion gamble in a wide-reaching effort to become an LTE powerhouse in the United States as well as its home county of Japan. The LTE ecosystem, in particular the TD-LTE ecosystem, could get a major boost via a deal announced today between Japan's Softbank and Sprint Nextel under which Softbank will pay $20.1 billion for a 70 percent stake in the U.S. company. Article
Softbank to buy 70% of Sprint for $20.1B
October 15, 2012 | By Phil Goldstein
Japanese operator Softbank will purchase 70 percent of Sprint Nextel (NYSE:S) in a deal valued at $20.1 billion. The move could change the competitive lanscape of the U.S. wireless market by strengthening Sprint financially. Article
Analysis: A Softbank buyout would give Sprint cash, improve TD-LTE ecosystem
October 11, 2012 | By Phil Goldstein
Sprint Nextel confirmed it is talking with Japanese operator Softbank on Softbank making a "substantial investment" in Sprint, and the motivations for the potential deal are starting to come into focus. Principally, Sprint would get cash and a stronger balance sheet from Softbank, and Softbank would potentially enhance the TD-LTE ecosystem at 2.5 GHz via Sprint's relationship with Clearwire. Article
Sprint/Softbank tie-up could escalate mobile payment wars
October 11, 2012 | By Jason Ankeny
Analysts say a potential partnership between Sprint Nextel and Japanese operator Softbank could result in new mobile commerce services coming to the U.S. market. Article
Can Japan's Softbank reinvigorate Sprint?
October 11, 2012 | By Sue Marek
Deutsche Telekom's plans to merge its T-Mobile USA operations with flat-rate player MetroPCS caused many in the wireless industry to ponder how this latest wireless industry maneuver would impact Sprint Nextel, which counts around 56 million customers and is the nation's third largest wireless carrier. But it appears that Sprint is in the midst of its own transformation. Editor's Corner