Sprint Gets First $3.1B from SoftBank Deal

Sprint Nextel Corp. on Monday received its initial $3.1 billion infusion from a pending partnership with Japanese wireless carrier SoftBank Corp.

The investment took the form of a bond sale.

SoftBank is attempting to purchase 70 percent of Overland Park-based Sprint (NYSE: S) in a $20.1 billion deal announced last week. The cash-stock deal includes an immediate infusion of $3.1 billion into Sprint.

Read more on Kansas City Business Journal.


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