Sprint to be sold for $12 Billion

[newarkhiphop]

While recent rumors suggested Sprint could be interested in snatching up Metro PCS, it may actually be the target of an acquisition.The Nikkei, Reuters and Wall Street Journal report it is in final buyout talks with Japanese carrier Softbank at a price in excess of 1 trillion yen ($12 billion US). Just over a week ago Softbank snapped up rival eAccess in a billion dollar deal that added 50 percent more base stations to its LTE network and will move it from third to second largest in the country when it is completed. It got to third place with a leveraged buyout of Vodafone's Japanese arm back in 2006, and CEO Masayoshi Son mentioned last week that he has his eye on the number one spot. We're not exactly sure how a potential purchase of the third place American carrier fits into its plans (or what this means for Sprint's future, its LTE rollout and its often woeful 3G speeds), but we're betting Softbank's CFO is just trying to keep Son away from any juicy looking eBay "Buy It Now" auctions.

Update: Looks like those reports were on the money: Sprint just released a statement confirming it is in talks with Softbank about a possible transaction. Find that terse press release embedded below.
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Japan's Softbank in 'advanced talks' to acquire Sprint for more than $12 billion (update: confirmed) -- Engadget

 

[Rekkapryde]

 

[2gunsup]

I sold my shares a month ago,

 

[PrnzHakeem]

I think this will actually be good for Sprint. This firm also wants to buy Clearwire which would put both the carrier and the LTE provider under one roof. And they apparently want to speed up the LTE rollout as well.

And Sprint needs the cash infusion anyway.

 

[ExodusNirvana]

 

[The Prince of All Saiyans]

 

[Arrogance.]

Sprint needs this. The American mobile market needs this.
Dan Hesse has been a great CEO during his tenure (considering the hell Sprint was doomed to when he took over) but he's made all the moves he can to improve the company. New ownership and an infusion of cash has been necessary for a while.

Now all we need is Deutsche Telecom to figure out T-Mobile's future and for Sprint/T-mobile to command more of the American market, driving down prices and getting more Americans cheap, affordable, fast Internet.

 

[GulfCoastGhost]

So does this mean sprint will actually have signal strength?? Kiss that unlimited shyt goodbye

 

[Silkk]

Need To Sell Em To The Bushes

 

[NatiboyB]

I may be copping a Sprint soon and defaulting on my at&t

 

[Strapped]

good maybe their network will get upgraded & we will finally get coverage like verizon

 

[Strapped]

google needs to put in a bid

 

[Regular_P]

They desperately need some new blood/cash there. Maybe Softbank will finally improve their dogshyt network. I couldn't take it anymore, but I never had a problem with Sprint before their network went to shyt recently.

Getting the iPhone on their network was the worst decision Sprint ever made.

 

[CoolazzFemale]

Curious to see how this turns out.