Categories
Close
Menu
Menu
Close
Search
Search

Featured Articles

Japanese telecoms business SoftBank to take control of Sprint in USA
News

Japanese telecoms business SoftBank to take control of Sprint in USA

Mark

Share:

Print

Rate article:

No rating
Rate this article:
No rating

Japan-based IT and telecoms business SoftBank has agreed a deal that’ll see it owning around 70% of US mobile operator Sprint. SoftBank will invest $20.1 billion (£12.5 billion), with shareholders receiving $12.1 billion and $8 billion being used as new capital.

Image

The deal has been approved by each company’s board of directors but is still subject to shareholder and regulatory approvals. It’s expected to be finalised in mid-2013.

Masayoshi Son, SoftBank’s founder, Chairman and CEO, said “This transaction provides an excellent opportunity for SoftBank to leverage its expertise in smartphones and next-generation high speed networks, including LTE, to drive the mobile internet revolution in one of the world’s largest markets. As we have proven in Japan, we have achieved a v-shaped earnings recovery in the acquired mobile business and grown dramatically by introducing differentiated products to an incumbent-led market. Our track record of innovation, combined with Sprint’s strong brand and local leadership, provides a constructive beginning toward creating a more competitive American wireless market.”

Sprint CEO Dan Hesse will continue to be in charge of the restructured business, which is currently being called ‘New Sprint’. Sprint is currently the third-largest mobile network operator in the USA.

Comments

Collapse Expand Comments (0)
You don't have permission to post comments.

Opinion Articles

ExclusiveLast week at The Fonecast: 26th March 2012

Mark Bridge writes:

It’s been a week of ups and downs for the mobile industry.

It started with good news as Apple – fresh from hitting 3 million new iPad sales – announced its plans to spend some of the $100 billion sitting in its decidedly non-mobile wallet. There’ll be a quarterly dividend and a share buy-back scheme.

ExclusiveNew product overtakes old product: why the surprise?

Mark Bridge writes:

Sometimes I’m a simple soul. This is one of those occasions. I simply don’t get what all the fuss is about.

Sales of Windows Phone 7 smartphones have overtaken Symbian device sales in Great Britain for the first time ever. Yes, the new heavily-promoted mobile phones from Nokia are more popular with consumers and retailers than those using the obsolescent Symbian OS. Windows Phone 7 now has 2.5% of the British smartphone market, compared with 2.4% for Symbian.

ExclusiveMosaik Solutions: providing mobile coverage data by putting all the pieces together

Mark Bridge writes:

Some parts of the mobile industry are all glamour and glitz, megapixels and multi-cores, apps and ads. And then there are the essential parts of the industry, quite often with considerably less competition... and therefore accompanied by less singing and dancing.

Despite hailing from the city of Memphis in Tennessee, Mosaik Solutions isn’t from the rock ‘n’ roll end of the mobile industry. It creates mobile coverage maps and provides coverage data, as well as supplying information about coverage patterns, wireless spectrum depth, network configurations and licencing.

RSS
First4243444547495051Last

Recent Podcasts

ExclusivePodcast from Mobile World Congress 2015

Mark Bridge learns about the mobile technology trends at Mobile World Congress 2015 by chatting to James Rosewell of 51Degrees, Dr Kevin Curran from the IEEE and Chris Millington of Doro.

They talk about wearable devices, wireless charging, mobile operating systems and much more... including some of their favourite products from the exhibition.

ExclusiveLooking back at February: from security scares to multiple MVNOs

We're taking a look back at the biggest mobile industry news stories from February 2015, including allegations that the UK's security service tried to breach SIM card security by hacking into one of the world's biggest SIM producers.

We also talk about the planned BT and EE merger, the creation of two new UK virtual networks, some acquisitions in the mobile payment arena and a new Ubuntu smartphone.

ExclusiveA month of mobile: O2 counts on 3, Microsoft counts to 10 and Apple counts its profits

We're back with a month of mobile industry news, including takeover talks and takeover rumours. O2 and Three are said to be discussing a merger... but is there any truth in the suggestions that BlackBerry could be up for grabs?

We also discuss Apple's record-breaking quarterly figures, the highlights of CES and the launch of Microsoft Windows 10, as well as saying farewell to the current version of Google Glass.

RSS
12345678910Last

Follow thefonecast.com

Archive Calendar

«May 2026»
MonTueWedThuFriSatSun
27282930123
45678910
11121314151617
18192021222324
25262728293031
1234567

Archive