Deals
SoftBank Says Its Deal Would Save Sprint $3 Billion by 2017
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SoftBank Corp., defending its takeover bid for Sprint Nextel Corp. against a counteroffer from Dish Network Corp., told investors that its deal will bring about $3 billion in annual operating savings by 2017.
A SoftBank transaction will save more than $2 billion a year on average from 2014 to 2017, reaching a run rate of $3 billion annually after that, the Tokyo-based company said in a filing. The merged companies will also be able to cut Sprint’s capital spending by 32 percent to 36 percent, SoftBank said. President Masayoshi Son presented the numbers to Sprint investors in a meeting in New York, two people familiar with the matter said.