sprint

What SoftBank's takeover of Sprint means for you (FAQ)

Japanese wireless provider SoftBank made a huge bet on the U.S. market after it agreed to take control of Sprint Nextel for $20.1 billion.

After days of speculation and reports, the two companies confirmed the deal this morning. SoftBank gets a large foothold in the U.S. market, which it believes still has the opportunity for growth. Sprint, meanwhile, gets a new lease on life and more support as it continues its turnaround.

But what does this mean for the average customer? Will the deal have any affect on Sprint's day-to-day service? CNET has put together this … Read more

Japan's Softbank poised to supercharge Sprint network

Softbank CEO Masayoshi Son isn't impressed with the high-speed wireless networks in the United States.

"Everytime I come to the U.S., I say 'Oh my God, the mobile phone network is so slow,'" Son said during a conference call with analysts today.

Now, Son is in a position to change things to his liking after Softbank and Sprint Nextel agreed on a deal in which Softbank would take a 70 percent stake in the U.S. carrier.

Sprint, which has struggled as a distant No. 3 carrier behind AT&T and Verizon Wireless, could get a boost from the deal, … Read more

Sprint savior? Japan's Softbank could bring badly needed boost

Softbank may be the shot in the arm that Sprint Nextel needs to finally be competitive with the big boys in the U.S.

Sprint and Softbank confirmed early Monday that they had agreed to a deal in which Softbank would spent $20.1 billion to take a 70 percent stake in the company. Softbank will pay shareholders $12.1 billion and invest $8 billion in the business.

But the deal underscores an increasingly evident reality for Sprint: that the growing pressures of the wireless industry are too much for the company to handle alone. It already must deal with … Read more

Softbank plans to take control of Sprint for $20.1 billion

With a cash investment of $20.1 billion, Softbank plans to take control over struggling U.S. carrier Sprint Nextel next year under an agreement announced today.

Under the all-cash deal, expected to close in mid-2013, the Japanese technology and investment firm will purchase 70 percent of Sprint's stock for $12.1 billion and will invest $8 billion into the company, Softbank announced (PDF) today.

Softbank is offering to buy Sprint shareholders' stock at $7.30, a 27 percent premium over the company's closing stock price Friday. Both companies' boards have approved the transaction.

Sprint had confirmed discussions with Softbank … Read more

Sprint reportedly agrees to sell 70 percent stake to Softbank

U.S. wireless carrier Sprint Nextel has reportedly reached an agreement to sell 70 percent of itself to Japanese mobile carrier Softbank for $20 billion.

Both companies' boards have approved the deal, which is expected to be announced tomorrow, sources tell CNBC. Under the deal, Softbank will buy $8 billion in stock directly from Sprint, with another $12 billion purchased from existing stockholders.

The tender offer's price per share is reportedly $7.30, a 27 percent premium over the carrier's closing stock price Friday of $5.73.

CNET has contacted Sprint for comment and will update this report … Read more

Signposts on Apple's road to map app mishap

While it initially appeared that Apple was caught off guard by the furor over how bad its in-house map application is, the company apparently had plenty of warning.

Developers have been complaining about Apple's Maps since shortly after they were given the first pre-release version in early June, CNET has learned. They say they filed bug requests, sent e-mails to specific Apple employees, and vented on message boards only other developers and Apple could see.

Threads on Apple's developer forums described some of the problems that appeared well ahead of the final version of the software, and they … Read more

Sprint LTE trudges ahead to San Francisco, 21 other markets

Sprint Nextel is slowly making some progress on the 4G LTE front.

The carrier, which lags behind Verizon Wireless and AT&T with its LTE network, said today that it would expand into an additional 22 markets -- including San Francisco -- "in the coming months." This follows the company's commitment last month to roll out the service in 100 cities, although it similarly didn't give a specific time frame.

The release of the LTE-enabled iPhone 5 has put a spotlight on just how weak its 4G coverage is relative to its two larger competitors. … Read more

Softbank-Sprint: U.S. wireless consolidation or just a land grab?

It's not exactly clear what's behind Softbank's tentative proposal to acquire control of Sprint. But that hasn't stopped lots of folks from trying to make sense of a cross-Pacific deal that hasn't even been formally struck yet.

At least the outline of a possible transaction is coming into focus. According to The Wall Street Journal, Softbank -- which zoomed to success in the Japanese market thanks to a years-long exclusive on the iPhone -- would pony up as much as $12.8 billion to acquire a roughly 70 percent stake in Sprint Nextel. That payment … Read more

Sprint confirms big-money talks with Softbank

Last update: 8:20 a.m. PT

Sprint Nextel has confirmed that it's holding discussions with Softbank regarding a "substantial investment" by the Japanese mobile carrier.

The confirmation came several hours after a report in the Wall Street Journal said, citing sources, that Softbank is in advanced talks to acquire the U.S.-based carrier for $12.8 billion. Beyond that, details are slim, and there's no telling if the companies might actually arrive at any kind of a deal.

Sprint's statement stopped short of saying that the company would accept a full buyout:

Sprint … Read more