SoftBank aims to purchase Sprint with $23 billion bid

October 12, 2012
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After hearing a few initial rumors early this week, it's becoming clear that the folks from SoftBank are taking a huge interest in one of the United States biggest mobile carriers. The Japanese mobile giant, SoftBank, has issued a bid for Sprint here in the US to the tune of around $23 billion in what appears to be borrowed cash.

Speaking with Reuters, this massive $23 billion loan would do wonders for the folks at SoftBank. Using the acquisition of the Now Network to gain a variety of new hardware partners and manufacturers to add to their growing list. Then in return offer more options and high-end smartphones and tablets here, and in Japan.

We're hearing this is “a must-do deal” for Sprint while for SoftBank it's just an attempt to grow their offerings and portfolio. With reports from Yasuo Sakuma, portfolio manager at Bayview Asset Management in Tokyo stating “it’s going to be very difficult to turn Sprint around.” And that is where SoftBank comes into play.

With T-Mobile closely behind the Now Network in 4th place as the largest US carrier, and looking to snatch up MetroPCS and become the third largest in the US things are looking pretty dire for Sprint right about now. What exactly SoftBank brings to the table here in the US to make them a better carrier, and a more successful company is unknown at this point with both having about $10 billion net in debt currently. Could we see SoftBank snatch up the number 3 carrier here in the US? Just to see T-Mobile complete their acquisition and steal the spot? We'll see!

[via SlashGear]


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