Japanese operator Softbank announced that it has acquired a 70 percent stake in US operator Sprint, financing the deal with $8 billion ($5.25 per share) in new capital and $12.1 billion ($7.30 per share) in existing shares. The Japanese company notes that it has not used equity financing to fund the deal, instead utilising cash-on-hand and debt. That means there will be no change in the company’s dividend policy. Softbank says that it will allow the company to “establish an operating base as one of the largest mobile Internet companies in the world.” Read the full story at The Next Web.
About Shelly Palmer
Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and writes a popular daily business blog. He's a bestselling author, and the creator of the popular, free online course, Generative AI for Execs. Follow @shellypalmer or visit shellypalmer.com.