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.
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.
Sprint would like you to know that, while LTE coverage has not yet been activated in these areas just yet, the Now Network has plans to rollout the shiny new towers to cities like San Francisco and Napa, CA, Naples and Cape Coral, FL, and several markets in midwest and southern states. The network is not live yet, of course. As with the carrier's previous announcement, this is simply to let people know what's coming.
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.
Good morning, owners of the Sprint Samsung Galaxy S III Epic 4G Touch. When you get your breath back, check your device's update function in the settings menu. Sprint's got a maintenance update, assuming that you're running the latest stock and non-rooted version of Ice Cream Sandwich. Software version S:D710.10S.FI27 adds only a few bug fixes to the email, MMS, and VPN apps, so don't get your hopes up for Jelly Bean any time soon.
Before you ask, no, we don't know how much, and we don't know when. Yeah. Sorry. Anyway, if you've been looking forward to the first mass-market Snapdragon S4 Pro smartphone, you're in luck. Because at some point in the future (wooooooo) you'll be able to get it on AT&T or Sprint! That smartphone, of course, is the LG Optimus G. Which, if you haven't heard about it, must mean you've been living under a rock for the last month while LG has personally gone door to door making sure literally everyone has seen it.
Sprint has some presents for you, especially if you live in the midwest. For starters, several cities are getting their shiny new LTE networks lit up today including Wichita, KS, Waukegan-Lake County, IL and more (listed below). As an added bonus, the #3 carrier also announced that the Network Vision rollout is beginning in Chicago, New York City, and Los Angeles. For those who are unaware, the Network Vision plan provides for significant improvements to the existing 3G infrastructure, in addition to eventual LTE upgrades.
Sprint just began pushing an OTA to its variant of the Galaxy S III that brings a few bug fixes and enhancements, as well as the inclusion of the SWYPE keyboard.
- Inclusion of SWYPE keyboard
- Improved LTE connectivity
- SMS Messaging improvements
- EAS sync improvements
This update, which is build number L710VPLI3 for those who like to keep up with that sort of thing, is rolling out in stages beginning now.
We knew it was happening, but now things are official. The Samsung Galaxy Note II is coming to Verizon, AT&T, Sprint, T-Mobile, and US Cellular. This is going to be a big deal, and not just because this phone is physically massive.
The centerpiece of the Note II is the 5.5-inch Super AMOLED HD panel at 1280x720. This screen uses Wacom inductive technology so you can make use of a pressure-sensitive S Pen, which docks neatly in the body of the phone when you're not using it.
According to an internal document sent to us by a tipster, Sprint will be turning on the four-gee taps in two major US cities this week - Boston and Chicago. As we know, Sprint is in something of a panic-mode in regard to its 4G rollout, and has decided to begin bringing its network online in some locations before it's fully ready. As you can see in the document below, that is exactly what's happening here.