Sprint to be taken over by Japan’s Softbank? [UPDATE: Sprint confirms talks]

It’s no secret that – in the States – it’s pretty  much a two horse race when it comes to cellular network providers. Verizon and AT&T are miles ahead of their nearest two competitors: Sprint and T-mobile. In fact, Deutsche Telekom (Tmo’s head company in Germany) have pretty much stated that they want out of the US altogether, and made moves to sell the Magenta carrier to AT&T last year. The deal was rejected by the powers that be and DT had to change its approach. Recently, the company announced an interesting plan to merge with MetroPCS.

Sprint however has always been a little short in options, and continues to struggle on improving its network, losing money to get the iPhone and fighting to stay competitive. Thankfully, an outside force could be about to rescue Black’n'Yella from its troubles. One of Japan’s biggest carriers, Softbank, is rumored to be looking in to taking over Sprint. In money talk, we’re allegedly looking at a $19 billion deal according to Bloomberg. Softbank is looking at expanding territory by turning its attention to the land across the Pacific, and Sprint is the most realistic option. We’ll keep our ears to the ground on this one, to see how it turns out.

[UPDATE: Sprint has confirmed that it is indeed in talks with Softbank over an investment, but doesn't give any indication how successful these talks will be, or if it will end in any transaction. 

"Although there can be no assurances that these discussions will result in any transaction or on what terms any transaction may occur, such a transaction could involve a change of control of Sprint,” Sprint said in a statement. “Sprint does not intend to comment further unless and until an agreement is reached."

Quote via: AllThingsD]

Via: Bloomberg

 

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  • EuroYellaDude

    This could be a good or bad thing, I’ll make sure I don’t find myself locked in any contracts until this is over… I need to keep my options open lol…

  • samichaels96

    Well, I guess that this pretty much makes up my mind on weather or not I stay with Sprint. I want to go up the ladder of top US carriers, but I cannot afford At&t or Verizon, so I guess that I might just go down to T-Mo. I hope that more info about this comes out to the public sometime within the next 4-6 months.