Deals
Softbank Declines on Planned Sprint Deal Complaint: Tokyo Mover
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Softbank Corp., controlled by billionaire Masayoshi Son, fell the most in more than two weeks in Tokyo trading because of a planned complaint regarding its proposed purchase of about 70 percent of Sprint Nextel Corp.
The Japanese mobile-phone operator dropped 1.9 percent to close at 3,065 yen, the biggest decline since Dec. 20. Crest Financial Corp. said Jan. 4 it will ask the U.S. Federal Communications Commission to block Softbank’s purchase of Overland Park, Kansas-based Sprint along with Sprint’s planned acquisition of outstanding shares in Clearwire Corp.