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Softbank in talks to invest in Sprint

October 12, 2012 • Business


FILE – In this combination of Associated Press file photo, a woman walks by a SoftBank shop in Tokyo Thursday, April 26, 2012, and a man walks past a Sprint store, Tuesday, April 27, 2010 in New York. Japanese cellphone company Softbank Corp. was in talks Thursday about taking a substantial ownership stake in struggling U.S. carrier Sprint Nextel Corp. Sprint, the third-largest cellphone company in the U.S., said the deal could be big enough to involve a “change of control” of the company. It didn’t provide any other details. (AP Photo)

NEW YORK (AP) — Japanese cellphone company Softbank Corp. was in talks Thursday about taking a substantial ownership stake in struggling U.S. carrier Sprint Nextel Corp.

Sprint, the third-largest cellphone company in the U.S., said the deal could be big enough to involve a “change of control” of the company. It didn’t provide any other details.

The news sent Sprint shares as high as $6.04, the highest level since 2008. Sprint shares rose 72 cents, or 14.3 percent, to close at $5.76 Thursday.

The Wall Street Journal, citing an unidentified person with knowledge of the Login to read more

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