Softbank confirms 70 percent acquisition of Sprint worth $20.1 billion

It's real early in the morning for a press conference, but that's not the real story here. In Japan, Sprint and Softbank are holding a joint press conference confirming what we've previously heard. The Japanese carrier is to acquire a 70 percent stake in Sprint, worth a whopping $20.1 billion. 

The acquisition will be made up of $12.1 billion worth of existing shares to be purchased, and a further $8 billion in newly issued shares. The move also has LTE intentions in its core. The press conference continues, but you can find the full information in the press release after the break. 

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Source: http://feedproxy.google.com/~r/androidcentral/~3/gUUviDWEd9g/story01.htm

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