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Softbank shares plunge on news of Sprint Nextel talks | Softbank shares plunge on news of Sprint Nextel talks |
(about 1 hour later) | |
Shares in the Japanese mobile phone company Softbank fell 16.9% in Tokyo after confirmation that it is in takeover talks with Sprint Nextel. | Shares in the Japanese mobile phone company Softbank fell 16.9% in Tokyo after confirmation that it is in takeover talks with Sprint Nextel. |
The potential deal to buy the number three US carrier would make Softbank one of the world's three biggest mobile phone operators. | The potential deal to buy the number three US carrier would make Softbank one of the world's three biggest mobile phone operators. |
Sprint shares closed 14.3% higher in the US. | Sprint shares closed 14.3% higher in the US. |
There are reports that Softbank could also be considering a bid for US mobile operator MetroPCS Communications. | There are reports that Softbank could also be considering a bid for US mobile operator MetroPCS Communications. |
The two acquisitions would cost Softbank more than 2tn yen ($25bn; £16bn), according to the Nikkei business daily. | The two acquisitions would cost Softbank more than 2tn yen ($25bn; £16bn), according to the Nikkei business daily. |