Softbank said to buy out 70 percent of Sprint for $20B

VentureBeat writes, Softbank has purchased 70 percent of telecommunications carrier Sprint, according to CNBC, a deal which may be announced tomorrow. The deal will run Softbank $20 billion. On Thursday rumors spread around that the two companies were in talks about Softbank buying a majority share in the United States’ third largest telecommunications provider. Sprint later confirmed the talks in a short press release, which stated the company was “engaged in discussions with Softbank regarding a potential substantial investment by Softbank in Sprint.” The company also explained that...

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