Sprint May Be Target of Japanese Buyer

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Japan-based Softbank Corp. is seeking to buy a controlling stake in Kansas-based Sprint Nextel Corp., according to a report by The Wall Street Journal.

Softbank, which is Japan’s third largest wireless carrier, may be negotiating to buy all of Sprint, or two-thirds of the company, the Journal report said. Still, the Journal said the value of the transaction could exceed $12.8 billion.

Sprint has been under close watch for its own possible bid for smaller U.S. wireless carrier MetroPCS Communications Inc., which agreed last week to merge with T-Mobile USA.

 


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