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Softbank aspires 'to be global player'

15 October 2012 Last updated at 15:35 BST

Japanese mobile phone company Softbank is to buy 70% of US carrier Sprint Nextel for $20.1bn (£12.5bn).

The deal will be the biggest overseas acquisition by a Japanese firm.

The takeover of the number three mobile carrier in the US will make Softbank one of the world's three biggest mobile phone operators, with 96 million users.

Softbank's chairman and chief executive Masayoshi Son told BBC News that he wants the company to be "number one in the world".