Sprint’s Owner Vows To Improve Wireless Service At Lower Cost

A Sprint store in Springfield | Photo by Nicole Lunger/Missouri Business Alert
Nicole Lunger/Missouri Business Alert

SoftBank Corp.’s Masayoshi Son said he wants to improve wireless connection speeds and lower monthly bills for U.S. customers as he pursues the acquisition of T- Mobile US Inc. At SoftBank’s annual shareholders meeting, the billionaire chairman said he wants to expand in the U.S. because its population growth and gross domestic product both exceed Japan’s.

Son, whose company paid $22 billion for Overland Park, Kan.-based Sprint Corp. last year, said he believes the U.S. wireless industry is “one of the least satisfactory” in the world. Investors are focused on a potential bid by Sprint for T-Mobile because it would boost SoftBank’s growth prospects as competition for wireless subscribers in Japan intensifies. SoftBank, Japan’s third-largest carrier, faces slowing business as customers cut spending on voice services and shift to cheaper calling plans.

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