As we reported yesterday, there are decidedly loud rumblings that Japanese telecom giant Softbank is in talks to acquire a rather large hunk of Sprint. Today, more information regarding the potential deal has been leaked to Reuters by a person close to the matter, and the numbers are staggering.
Softbank is looking to buy 70% of Sprint, and they're asking for $23 billion in financing from Japanese banks to do it. Oddly, Sprint is only worth around $17 billion, so it's unclear why Softbank wants quite so much, unless they're planning on offering an exceptionally large premium over Sprint's current valuation.
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