SoftBank Group Corp. Announces Intention to Increase Stake in Sprint
November 6, 2017
SoftBank Group Corp.
TOKYO – SoftBank Group Corp. (“SBG”) announced today that it intends to increase its stake in Sprint Corporation (“Sprint”) through open market transactions or otherwise, subject to market conditions and other factors. SBG does not intend to increase its ownership of Sprint outstanding common stock to 85% or more as a result of these purchases.
Masayoshi Son, Chairman & CEO of SBG and Chairman of Sprint, said, “We are entering an era where billions of new connected devices and sensors will come online throughout the United States. Continuing to own a world class mobile network is central to our vision of ubiquitous connectivity. Sprint is a critical part of our plan to ensure that we can deliver our vision to American consumers and we are very confident in its future.”
On November 4, 2017, Sprint (NYSE: S) announced that discussions regarding a potential merger with T-Mobile (NASDAQ: TMUS) have ended without an agreement being reached.
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