Sprint Nextel Corp. says that the $20.1 billion cash infusion from SoftBank Mobile Corp. will not change its schedule for deploying 4G Long Term Evolution (LTE).
SoftBank revealed Monday that it will make a massive investment in Sprint. Most of the money, $12.1 billion, will be distributed to Sprint shareholders, and $8 billion will be new capital that will go toward the strengthening of Sprint's balance sheet. (See Softbank to Pay $20B for 70% Sprint Stake.)
This won't change Sprint's plans for its 3G and 4G upgrades across the network, though. The company expects to complete the majority of its Network Vision deployment in 2013 and is sticking to that timetable.
"The SoftBank transaction does not impede Network Vision; Sprint should continue to implement the plan as scheduled," the spokesman for the operator told LR Mobile via email.
Sprint now has LTE up in 24 towns and cities in the U.S. It expects to have 100 cities up soon. (See Sprint: LTE in 100 Cities in the 'Coming Months'.)
â€” Dan Jones, Site Editor, Light Reading Mobile