Softbank is set to acquire 70% of Sprint for a total of $20 billion. Stating people familiar with the discussions, The Wall Street Journal reports that the deal could be announced as early as Monday. Softbank will pay Sprint $8 billion out right for an unclear number of shares and then an additional $12 billion in shares from the market. Current Sprint CEO Dan Hesse is expected to remain at the head of Sprint after the dust settles. The partial acquisition by Softbank would give Sprint immediate access to a large amount of cash to fund operations, further build out and improve its CDMA and LTE networks.. Sprint admitted that it was in talks with Softbank last week, although nothing has been announced expect to hear something soon.
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