Softbank to Buy 70 Percent of Sprint for $20.1 Billion

That’s a Pretty Hefty Amount of Money.
How will it Change Srpint-Nextel?…

Japan’s Softbank has agreed to buy 70 percent of Sprint for $20.1 billion, giving the struggling U.S. cellphone company an infusion of cash and confidence.

The deal, announced Monday in Tokyo, toward positioning Overland Park, Kan.-based Sprint Nextel Corp. as a stronger competitor to market leaders Verizon Wireless and AT&T, but it doesn’t solve some of the company’s underlying problems.

Read More: Softbank to Buy 70 Percent of Sprint

by Peter Svensson, Associated Press