Rumors of Sprint's $12 billion acquisition by Softbank weren't exaggerated, they were understated: according to CNBC, the Now Network will announce a $20 billion transaction with the Japanese network on Monday, granting Softbank a 70 percent stake in the company. According to people familiar with the matter, Softbank will purchase $8 billion in shares directly from Sprint, snagging an additional $12 billion in stock at $5.25 a share from other shareholders. The Japanese firm's payout would net Sprint $3 billion, money CNBC supposes it might use to regain control of Clearwire.
2DayBlog.com , CNBC: Softbank to pay $20 billion for a 70 percent stake in Sprint, CNBC: Softbank to pay $20 billion for a 70 percent stake in Sprint
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