Thursday, October 11, 2012

Softbank in "advanced talks" to buy Sprint Nextel

Posted By on Thu, Oct 11, 2012 at 9:32 AM

Sprint CEO Dan Hesse is likely smiling this morning.
  • Flickr: Jbtaylor
  • Sprint CEO Dan Hesse is likely smiling this morning.
Sprint Nextel Corp. might soon be very big in Japan. The Wall Street Journal reported earlier this morning that Softbank Corp., Japan's third biggest mobile-phone operation, is in "advanced talks" to purchase the U.S. mobile carrier.

Softbank could have had a much better deal in January. Sprint's stock was trading at $5.53 per share as of 9:15 a.m. after beginning the year at $2.33 per share. This would mark the second major sale of a Kansas City-area Fortune 500 company in the past six months. AMC Entertainment Holdings was acquired by China's Dalian Wanda Group in May.

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