It seems to be the month of US telco company moves. Just days after the MetroPCS and T-Mobile merger announcement, and Sprint’s hide-and-seek moves on MetroPCS, Sprint confirmed yesterday that it is in talks with Japanese carrier Softbank to acquire a controlling interest in Sprint at the cost of a whopping $12.5 billion. Sprint has confirmed that the discussion is at an advanced stage, but h as not commented on the possible outcome.
As for Softbank, details on how they intend to incorporate one of the largest US networks into their system is still not known.
Quoted from Sprint’s website
Sprint Confirms Discussions with Softbank on a Possible Transaction
OVERLAND PARK, Kan. (BUSINESS WIRE), October 11, 2012 – Sprint (NYSE: S) today confirmed that it is currently engaged in discussions with Softbank regarding a potential substantial investment by Softbank in Sprint. Although there can be no assurances that these discussions will result in any transaction or on what terms any transaction may occur, such a transaction could involve a change of control of Sprint. Sprint does not intend to comment further unless and until an agreement is reached.
What this could mean for Sprint can only be speculated upon for now, till further details are made known.