Skip to content
Subscriber Only

Softbank Agrees to Buy Sprint Stake in $20.1 Billion Deal

Softbank Corp. agreed to buy a stake of about 70 percent in Sprint Nextel Corp. for $20.1 billion as Japan’s third-biggest mobile-phone operator seeks growth overseas amid a declining local market.

Softbank will pay $12.1 billion to Sprint shareholders and the deal includes $8 billion of new capital, according to a statement today. The deal would be the biggest publicly announced outbound acquisition by a Japanese company since at least 2000, according to data compiled by Bloomberg.