Japanese Carrier Softbank Buys Controlling Interest in Sprint

As was rumored last week, Japanese carrier Softbank is purchasing 70% of Sprint for $20 billion. The deal is expected to be announced tomorrow morning, but the boards of both companies have agreed to the transaction. Softbank will buy $8 billion in shares directly from Sprint, and another $12 billion from existing stockholders at $7.30 per share, a 27% premium from Friday's close.

NewImage

The purchase is a huge one for Softbank, which is essentially making a $20 billion gamble that it success in developing LTE wireless services in its home market of Japan can be translated to the U.S. Sprint, while the third largest wireless provider in the U.S., significantly trails the two market leaders, Verizon and AT&T.

Softbank's hope, say people familiar with its strategy, is to build on Sprint's spectrum position, while hoping the company can further consolidate the wireless industry through acquisitions of more spectrum and other operators. The deal is expected to close in roughly six months.

This puts another major carrier in the United States in foreign hands. Verizon is 45% owned by UK carrier Vodafone, T-Mobile is owned by German-firm Deutsche Telekom, and Sprint will now be majority owned by Softbank. There are no details regarding Sprint's branding in the US, or if Softbank will begin promoting itself within the country.

Sprint became the third of the four major U.S. carriers to offer the iPhone upon the release of the iPhone 4S in October 2011, with company executives moving to "bet the company" on the iPhone in committing to purchase more than 30 million iPhones worth $20 billion over the first four years of the partnership. The move has impacted Sprint's financials over the short-term, but the carrier believes that the long-term effects of having the iPhone will be positive.

Popular Stories

iOS 26

Everything New in iOS 26.1 Beta 1

Monday September 22, 2025 12:44 pm PDT by
Apple released the first beta of iOS 26.1 today, just a week after launching iOS 26. iOS 26.1 mainly adds new languages to Apple Intelligence, but there are a few other features that are worth knowing about. New Apple Intelligence Languages Apple Intelligence is now available in Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (Traditional), and Vietnamese. AirPo...
iPhone 17 Pro and Air Feature

Two iPhone 17 Pro and iPhone Air Colors Appear to Scratch More Easily

Friday September 19, 2025 10:02 am PDT by
As reported by Bloomberg today, some of the new iPhone 17 Pro and iPhone Air models on display at Apple Stores today are already scratched and scuffed. French blog Consomac also reported on this topic. The scratches appear to be most prominent on models with darker finishes, including the iPhone 17 Pro and Pro Max in Deep Blue, and the iPhone Air in Space Black. Images Credit: Consoma ...
apple tv 4k new orange

Next Apple TV Expected to Launch This Year With These New Features

Monday September 22, 2025 10:00 am PDT by
The next Apple TV is expected to be released later this year, and a handful of new features and changes have been rumored for the device. Below, we recap what to expect from the next Apple TV, according to rumors. Likely Features N1 Chip With Wi-Fi 7 Last year, Bloomberg's Mark Gurman said the next Apple TV would be equipped with Apple's own combined Wi-Fi and Bluetooth chip, which is...
Apple Intelligence General Feature 2

iOS 26.1 Adds New Apple Intelligence Languages and Expands AirPods Live Translation

Monday September 22, 2025 11:15 am PDT by
With iOS 26.1, Apple Intelligence is gaining support for additional languages, including Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (Traditional), and Vietnamese. Apple announced plans to expand the languages that can be used with Apple Intelligence last year, and now the added language support is here. Apple Intelligence is now available in the following...
Apple Foldable Thumb

Foldable iPhone Like 'Two Titanium iPhone Airs' Joined at the Hinge

Monday September 22, 2025 2:16 am PDT by
Next year's rumored foldable iPhone will showcase an ultra-thin design resembling "two titanium iPhone Airs side-by-side," according to Bloomberg's Mark Gurman. Writing in the Q&A section of his latest Power On newsletter, Gurman says Apple's first foldable device will be "super thin and a design achievement," combining Apple's thinnest iPhone form factor with cutting-edge folding...
iPhone 17 Pro and Air N1 Feature

Some iPhone 17, iPhone 17 Pro, and iPhone Air Users Experiencing Intermittent Wi-Fi Issue

Monday September 22, 2025 8:44 am PDT by
Apple's latest iPhone models launched on Friday, and some early adopters of the devices are experiencing intermittent Wi-Fi issues. Affected customers say Wi-Fi connectivity periodically cuts out on the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and iPhone Air, with hundreds of comments about the issue posted across the MacRumors Forums, Reddit, and the Apple Support Community over the...
iPhone 17 Pro USB C Port

iPhone 17 Pro Max's USB-C Charging Speeds Tested With Apple Chargers

Monday September 22, 2025 7:29 am PDT by
The website ChargerLAB has tested the iPhone 17 Pro Max's USB-C charging speeds with a variety of Apple's chargers, from 18W to 140W. The device reached a peak charging speed of around 36W with the following Apple chargers:40W Dynamic Power Adapter with 60W Max 61W USB-C Power Adapter 67W USB-C Power Adapter 70W USB-C Power Adapter 96W USB-C Power Adapter 140W USB-C Power AdapterFor...

Top Rated Comments

iansilv Avatar
169 months ago
Who cares?

I do. That's why I asked the question. See, by asking the question, I answered yours...
Score: 21 Votes (Like | Disagree)
w00t951 Avatar
169 months ago
AT&T should play the patriotism card. "If you want to support your country, select AT&T!*"

*Decent service not included.
Score: 14 Votes (Like | Disagree)
FrauHasSpoken Avatar
169 months ago
staying american with at&t ;)
Score: 12 Votes (Like | Disagree)
puma1552 Avatar
169 months ago
so the worst of the big three japanese carriers bought the worst of the big three american carriers?

cool strategy
Score: 10 Votes (Like | Disagree)
jayducharme Avatar
169 months ago
if they want me to stay American, make a better product (You know, like capitalism is designed to do!!!)

In an ideal world that would be true. But these days it seems like capitalism is designed so that huge companies can make huge profits with as little effort as possible. The big telecoms offer similar services at similar prices, as do the cable companies, utilities, gas stations, etc.... There's a happy illusion of choice.

My happy illusion currently is AT&T. ;)
Score: 8 Votes (Like | Disagree)
S.B.G Avatar
169 months ago
Who cares?

Probably folks who own shares of Sprint stock.
Score: 7 Votes (Like | Disagree)