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4G/3G/WiFi

Softbank Closes on Sprint Acquisition

Sprint's M&A saga has finally come to a close as Softbank closed its acquisition of the U.S. operator late Wednesday.

The news comes just one day after Sprint completed its acquisition of Clearwire. (See Sprint Closes Clearwire Acquisition.)

Softbank first announced its intention to acquire Sprint for $21.6 billion last October, but the deal has been stymied by an unsolicited bid from Dish Network in April and regulatory scrutiny about a foreign company owning the operator. Softbank ended up sweetening its offer to $7.65 per share, causing Dish to drop its bid. The deal received FCC approval on July 5. (See FCC Approves Softbank/Sprint, Sprint/Clearwire, (Sprint Shareholders Approve Softbank Merger and Dish Throws in the Towel on Sprint Buy.)

Having both deals wrapped up means that Sprint now has significantly more money -- $5 billion of new capital with $1.9 billion available at closing – and spectrum to expedite its LTE rollout and compete against rivals AT&T and Verizon Wireless.

Softbank now owns 78 percent of the combined Sprint and Clearwire. Sprint will continue to be listed on the NYSE as "S" with regular trading commencing on Friday. No management changes have been announced within Sprint, but Softbank Chairman and CEO Masayoshi Son will serve as the chairman of the Sprint board of directors.

— Sarah Reedy, Senior Editor, Light Reading

Sarah Thomas 7/11/2013 | 2:40:35 PM
re: Softbank Closes on Sprint Acquisition I could see a deal being worked out there -- if not a merger than a partnership of sorts. Both are certainly trying to be disruptive, and that seems more reasonable than Sprint, which is just a little busy integrating two companies...
earth 7/11/2013 | 1:26:38 AM
re: Softbank Closes on Sprint Acquisition Tmob CEO says's he's interested in both Dish and Sprint...

http://seekingalpha.com/curren...
Sarah Thomas 7/10/2013 | 11:42:57 PM
re: Softbank Closes on Sprint Acquisition So what's Dish's Charlie Ergen's next move? You know we haven't heard the last of him! On Twitter, @mordyk suggests: he can pull a Voicestream and combine regionals or some arrangement with T-mobile. DirectTV is existing market & doubtful = 0 growth
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