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Sprint, SoftBank complete merger

2013-07-11 03:53:00| Telecompaper Headlines

(Telecompaper) Sprint and SoftBank have completed their merger. SoftBank invested around USD 21.6 billion in Sprint, consisting of USD 16.6 billion to be distributed to Sprint stockholders and USD 5 billion of new capital. Through the transaction, SoftBank acquired around 72 percent of Sprint shares and the remaining shares are being converted into shares of a new publicly traded entity named Sprint Corporation.

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