Deals
SoftBank’s Profit Beat Shows Its Vision Fund Is Delivering
- SoftBank will de-consolidate Sprint from results this quarter
- The accounting change frees SoftBank to focus on Vision Fund
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Masayoshi Son can’t wait to wash his hands of Sprint Corp.
SoftBank Group Corp. will stop consolidating the U.S. carrier in its results starting next earnings report, anticipating a successful merger with T-Mobile USA Inc. despite questions over the deal’s eventual closing. That accounting change will slash SoftBank’s debt load and help it shed its image as a staid telecoms company, the Japanese billionaire said Wednesday.