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SoftBank Vote of Confidence Adds $6 Billion to Sprint Market Cap

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(Bloomberg) -- Marcelo Claure, chief executive officer of Sprint Corp., talks about the wireless carrier's decision to eliminate two-year service contracts, plans for its network and SoftBank Group's increased state in the company. Claure speaks with Brendan Greeley, Vonnie Quinn and Tom Keene on Bloomberg Television's "Surveillance." (Source: Bloomberg)

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SoftBank Group’s decision to lift its stake in Sprint Corp. has helped boost shares in the unprofitable U.S. wireless operator by almost 50 percent over the last seven trading days, adding more than $6 billion to its market value.

The Japanese carrier disclosed Tuesday that it had increased its stake in Sprint for a second time this month, acquiring 16.8 million shares for $73 million, according to Bloomberg calculations based on a SoftBank filing with the U.S. Securities & Exchange Commission. The latest purchase follows an earlier $87 million investment in Sprint that the Tokyo-based company announced Aug. 13.