Legal News

Softbank Could Purchase Sprint
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

In the midst of reports that Sprint Nextel Corp. could be acquired by Softbank Corp., the shares of Sprint reached their highest level in one year on Thursday. Sprint is the third-largest cell phone company in the United States. Quoting an unidentified source close to the talks, the Wall Street Journal said that the deal would allow Softbank to expand its operations outside of Japan. The transaction could be worth $12.8 billion.

When the market closed on Wednesday, Sprint’s market capitalization value stood at $15 billion, which means that Softbank possibly might not purchase the entire company. A representative from Softbank said that the story is “based on speculation” and said that “We do not comment on speculation.”


The shares for Sprint increased by 73 cents, which is 14.4 percent, to hit $5.76 during morning trading. Earlier in the day they reached a 52-week high at $5.98.

“We would expect to see very little synergies created with such a transaction,” said Stifel Nicolaus analyst Christopher King.

Just last week, the board for Sprint was thinking of placing a bid to purchase MetroPCS Communications Inc., which is the fifth-largest cell phone company in the United States. The bid would have been a counter offer to a bid placed by T-Mobile USA, which is the fourth-largest cell phone company in the country.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!



Probate Paralegal / Assistant


Waggoner & Bruehl, PA, a small Law Firm in Pine Island, Florida, is seeking a Probate and Trust Admi...

Apply now


USA-CA-Costa Mesa

Prominent AV Rated Orange County business bankruptcy and commercial litigation law firm boutique see...

Apply now

Litigation Mid-Level Associate Attorney


Hoban Law Group is currently seeking an exceptional mid-to-senior litigation attorney with multi-fac...

Apply now

Real Estate Paralegal - Immediate Opening

USA-NY-Sheepshead Bay

$35,000 to $60,000 Annually Benefits Offered Medical Employment Type Full-Time Why Wo...

Apply now




Search Now

Corporate/Transactional Attorney

USA-IA-Des Moines

Des Moines office of a BCG Attorney Search Top Ranked Law Firm seeks corporate/transactional attorne...

Apply Now

Corporate Attorney / Counsel

USA-NY-New York City

New York City office of a BCG Attorney Search Top Ranked Law Firm seeks corporate attorney with 5+ y...

Apply Now

Housing Finance Associate Attorney


Minneapolis office of a BCG Attorney Search Top Ranked Law Firm seeks a housing finance associate at...

Apply Now

Most Popular


To Top