Japan's Softbank to buy 70% stake in Sprint Nextel


The Japanese mobile phone operator Softbank is set to spend more than $20bn (£12.4bn) in order to buy a 70% stake in struggling US mobile carrier Sprint Nextel.

The deal will be the biggest ever overseas buy-up by a Japanese company.

Sprint Nextel is the number three mobile carrier in the US and the acquisition will see Japan's Softbank become one of the world's top three mobile phone operators.

Ajay Sunder, senior director of Frost & Sullivan's ICT practice in Asia Pacific, told the BBC's Asia Business Report that the deal was likely to benefit both firms.

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.