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SAN FRANCISCO Softbank Corp.'s merger discussions with Sprint Nextel Corp. are focusing on a deal that would give the Japanese wireless carrier a 70% ownership stake in its U.S.-based target, unnamed sources told the Wall Street Journal on Thursday afternoon. The deal would involve a "multi-billion-dollar cash injection" as well as a tender offer to buy additional shares, the article said. Also, Clearwire is considered an important component of the deal. Sprint owns a 49% stake in Clearwire, which is building a next-generation wireless network on similar technology to that used by Softbank. Clearwire shares closed Thursday's regular session up 70% to $ 2.22 on speculation surrounding the deal. Sprint closed up 14% at $ 5.76.

One Response so far.

  1. Calvin Q says:

    So now not only will my phone be japanese but my damn phone bill and calling plan will be controlled by a foreign comapny?

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