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General

Softbank buys Sprint shares, could raise stake to 85%

Thursday 13 August 2015 | 08:51 CET | News
Japanese telecom group SoftBank bought 22.87 million shares of Sprint from 10 to 12 August at an average price of USD 3.80, or USD 86.91 million in total. The shares represent 0.58 percent of outstanding shares of Sprint common stock and raise SoftBank's holding to 3.17 billion shares, or 79.99 percent of equity. The purchases were made through wholly-owned US subsidiary Galaxy Investment. SoftBank intends to continue acquiring Sprint shares but will not raise its stake to 85 percent or more. The company said it has dedicated significant resources to optimising Sprint's network strategy and

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Categories: General
Companies: Softbank / Sprint
Countries: United States
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