Sprint Nextel shareholders approve Softbank deal

Jun 25, 2013

Sprint Nextel Corp.'s shareholders on Tuesday approved SoftBank Corp.'s acquisition of the bulk of the wireless carrier company.

Softbank had been competing with Corp. since April to acquire Sprint. Sprint opted for Softbank's $21.6 billion offer for 78 percent of the company, versus Dish's $25.5 billion bid for all of Sprint.

CEO Dan Hesse said it was a historic day for the company and said the deal should enhance Sprint's long-term value and competitive position by creating a company with greater financial flexibility.

Softbank, based in Japan, is giving Sprint stockholders the choice of $7.65 for each share held or one share of New Sprint common stock.

Explore further: FCC takes aim at annoying telemarketing calls

Related Stories

Sprint to listen to Dish offer

May 21, 2013

Wireless company Sprint Nextel Corp. says it can now let Dish Network Corp. see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan's SoftBank.

Recommended for you

Germany auctions off new mobile phone frequencies

12 hours ago

Germany on Wednesday started an auction of frequencies for mobile phone operators, pledging that users will soon enjoy nationwide super-fast 4G coverage without "black holes" in rural areas.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.