SoftBank Group Plans To Increase Stake In Sprint

(RTTNews) - SoftBank Group Corp. (SFTBF.PK) said that it plans to increase its stake in Sprint Corp. (S) through open market transactions or otherwise. SBG does not intend to increase its ownership of Sprint outstanding common stock to 85% or more as a result of these purchases.

Masayoshi Son, Chairman & CEO of SBG and Chairman of Sprint, said, "We are entering an era where billions of new connected devices and sensors will come online throughout the United States. Continuing to own a world class mobile network is central to our vision of ubiquitous connectivity. Sprint is a critical part of our plan to ensure that we can deliver our vision to American consumers and we are very confident in its future."

On November 4, 2017, Sprint announced that discussions regarding a potential merger with T-Mobile (TMUS) have ended without an agreement being reached.

Separately, Sprint and Altice USA (ATUS) announced a new multi-year strategic agreement. Under the terms of the agreement Altice USA will utilize Sprint's network to provide mobile voice and data services to its customers throughout the nation, and Sprint will leverage the Altice USA broadband platform to accelerate the densification of its network.