Softbank Confirms It Is Buying 70% Of Sprint For $20.1B, Creating World?s Third Largest Mobile Carrier By Sales

Softbank has confirmed the news that it is buying Sprint, the third-largest wireless carrier in the U.S., for $20.1 billion (?1.571 trillion). In fact, this is turning out to be full acquisition of what Softbank is calling "New Sprint.": "As a result of the transaction SOFTBANK will own?approximately 70% of the fully-diluted (as used herein, not giving effect to out-of-the-money options)?shares of New Sprint (as defined below), which will own 100% of the shares of Sprint." Softbank says that the combined company will be the world's third largest in terms of revenues.

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