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Featured: Japanese Carrier Softbank Buying 70% Stake of Sprint for $20 Billion

October 14, 2012 - Written By Alexander Maxham

What is with all these carriers deals lately? Late-September we heard about the MetroPCS and T-Mobile merger here in the US. Just a few days ago we started hearing about Softbank wanting to purchase Sprint/Nextel, or at least part of Sprint. This afternoon, sources told CNBC that the Japanese provider bought 70% stake in Sprint for $12 Billion. Softbank will buy $8 Billion in stock directly from Sprint, and $12 Billion from existing stockholders.

This deal with Softbank will allow Sprint to purchase the remaining parts of Clearwire that it doesn’t already own. It’ll also make AT&T the only US national carrier that isn’t under foreign control. As you probably know T-Mobile is German, Verizon Wireless is partnered with Vodafone, and now Sprint is with Softbank. Softbank is also planning to use their expertise in LTE networks to help boost Sprint’s LTE network and make the competition for wireless in the US much tighter.

An official announcement from Sprint is expected tomorrow. The deal is expected to be completed in about six months time. With this new buyout of Sprint, customers should see more competitive plans, better phones and more perks. Personally as a Sprint customer, I’m not exactly sure how to feel about all of this, but head to the comments below and let us know what you think about it.

Source: CNET, 9to5Google