This morning, AT&T VP Brad Burns released a statement regarding the upcoming Softbank purchase of Sprint, and it carefully treads the line between "passive aggressive displeasure" and "seriously FCC, if this goes through, we're buying like a million carriers":
Softbank's acquisition of Sprint and the control it gains over Clearwire will give one of Japan's largest wireless companies control of significantly more U.S. wireless spectrum than any other company. We expect that fact and others will be fully explored in the regulatory review process.
SoftBank, a Japanese telecommunications and Internet corporation, has confirmed via a press release and a live event in Tokyo the $20.1bn investment that would give SoftBank a 70% ownership of Sprint. The news hit the rumor mill 3 days ago and was pretty much confirmed by CNBC yesterday. The transaction is expected to close in mid-2013 pending regulatory approval.
Roughly $12.1bn will be paid to the shareholders at $7.30 a share and $8bn will be used to "strengthen Sprint's balance sheet," grow the network, and perform "strategic investments."
Sprint's shares closed at $5.73 last Friday for a +144.87% gain this year so far. Read More
Just what the title says here, folks: Softbank and Sprint have reached a deal that will transfer 70% of Sprint's shares to the Japanese telecom giant. The price? A cool $20 billion - a premium significantly above Sprint's $17 billion market cap, 70% of which would be just $12 billion. The deal will involve Sprint selling $8 billion of stock directly to Softbank, and another $12 billion that will be acquired through Sprint shareholders, at a price of $7.30 a share. Read More
We've heard rumors that Sprint is considering outbidding T-Mobile for MetroPCS's affection. Just in case that doesn't work, though, Sprint wants us to know that there is another plan in the works: being purchased by Softbank. Since most of you likely aren't up to date on Japanese telecoms, here's the deal: Softbank is a Japanese telecom. The third largest wireless carrier in the country, so a bit of a kindred spirit with Sprint. Read More