Sprint has been struggling for years, but there may be help on the way thanks to Softbank. Currently, the Japanese telco is in talks with Sprint about buying a considerable portion of the U.S. carrier.
According to people familiar with the negotiations, Softbank is reportedly trying to buy around 70% of Sprint.
Such a large influx of cash would not only help Sprint to consolidate its considerable debt, but once again make it a player in the wireless industry, allowing the carrier to compete against its bigger rivals Verizon and AT&T. It would also go a long way toward paying for Sprint’s ongoing move from 4G WiMAX to the more popular 4G LTE.
The interesting thing about the deal is that Softbank is not attempting to buy Sprint outright. Instead, the Japanese carrier is looking to buy a portion of Sprint’s shares and then further down the line potentially seek to buy more shares at a premium price.
While it has been confirmed from Softbank spokespeople that the Japanese tech is in talks with Sprint about a possible deal, nothing has been decided.