Softbank to Buy 70% of Sprint as Son Seeks Growth in U.S.

Softbank to Buy 70% of Sprint as Son Seeks Growth in U.S.

Kiyoshi Ota/Bloomberg

Masayoshi Son, chairman and chief executive officer of Softbank Corp., speaks during a news conference in Tokyo, on Oct. 15, 2012. Softbank agreed to pay $20.1 billion to acquire about a 70 percent stake in Sprint Nextel Corp. as Japan's third-biggest mobile-phone operator seeks growth overseas amid a declining local market.