SoftBank CEO expects Sprint deal to close in early July

SoftBank-Sprint Merger Closing

SoftBank CEO Masayoshi Son is confident that his company’s deal to acquire Sprint will close early next month, Reuters reported. Dish Network was originally looking to counter SoftBank’s offer, but the company abandoned its bid earlier this week to focus on acquiring ClearWire. That effort might not work out either. The pressure from Dish, however, forced SoftBank to revise its offer for Sprint earlier this month. The company increased its bid by 7.5% from $20.1 billion to $21.6 billion in cash and stock. Son noted that Dish’s offer had the company worried and exploring alternative options like acquiring T-Mobile, but the executive now believes that with Dish out of the picture, the deal between the two companies will close in early July. Sprint shareholders are scheduled to vote on SoftBank’s offer on June 25th.

Source:
Reuters
blog comments powered by Disqus