Sprint savior? Japan's Softbank could bring badly needed boost
News On Japan via CNET -- Oct 13
Softbank may be the shot in the arm that Sprint Nextel needs to finally be competitive with the big boys in the U.S.
Sprint and Softbank confirmed yesterday that they were in talks for a deal. Softbank would presumably take a 70 percent stake in the wireless carrier for $12.1 billion, according to the Wall Street Journal. Both have cautioned that a deal isn't anywhere near a lock.
But the talks underscore an increasingly evident reality for Sprint: that the growing pressures of the wireless industry may be too much for the company to handle alone. It already must deal with the financial burden of its network upgrade plan, which includes ensuring enough capacity to meet the obligations of its widely touted unlimited data offer, as well as its large commitment to Apple to sell iPhones. Add to that a shifting mobile landscape and Sprint increasingly finds itself in a bind.
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