Japan's Softbank To Snag 70% Stake In Sprint
Early reports suggest that the deal will see Softbank snapping up $8 billion worth of stock from Sprint ($5.25 per share), and tender for another $12 billion from existing holders at $7.30/share. That's a big premium, but given Sprint's slow spiral into the unknown here in the U.S., it's probably best to jump now while someone is even remotely interested in a buy.
Sprint has struggled in recent years to compete with AT&T, Verizon and even prepaid carriers. The network operator leaped first on WiMAX, but LTE eventually won the 4G war, leaving Sprint massively behind the curve. They also weren't able to secure the iPhone until last year, long after most people who wanted one had already selected a rival carrier. It remains to be seen if a foreign parent will have any luck in making Sprint stronger on its home turf, but any change seems like a positive one at this stage.