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No longer a subsidiary of SBG
- Upon completion of the Transaction on April 1, 2020, the combined company T-Mobile US, Inc. (“New T-Mobile”) became an equity method associate of SBG with an approximately 24% shareholding on fully diluted basis, and Sprint is no longer a subsidiary of SBG.
group.softbank/en/news/press/20200402Completion of Merger of Sprint and T-Mobile | SoftBank Group ...
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Feb 21, 2020 · Upon completion of the Transaction on April 1, 2020, the combined company T-Mobile US, Inc. (“New T-Mobile”) became an equity method associate of SBG with an approximately 24% shareholding on fully diluted basis, and Sprint is no longer a subsidiary of SBG.
- Completion of Acquisition of Sprint | SoftBank Group Corp.
SoftBank Corp. (“SoftBank,” TSE: 9984) and Sprint Nextel...
- Strategic Acquisition of Sprint by SOFTBANK
SOFTBANK has formed a new U.S. holding company, Starburst I,...
- Completion of Acquisition of Sprint | SoftBank Group Corp.
On April 1, 2020, Sprint Corporation completed their acquisition by T-Mobile US, which effectively made Sprint a subsidiary of T-Mobile until the Sprint brand officially discontinued in the beginning of August. Leadership, background, and stock changes happened immediately, with customer-side changes happening over time.
Jun 11, 2013 · SoftBank Corp. (“SoftBank,” TSE: 9984) and Sprint Nextel Corporation (“Sprint,” NYSE: S) today announced the completion of their previously announced merger whereby SoftBank has invested approximately USD 21.6 billion (approximately JPY 1.8 trillion *) in Sprint.
- Significance of Acquisition
- Acquisition Method and Procedure
- Key Dates Regarding The Transaction
- Financing
- CEOs' Quotes
- Advisors
- Future Outlook
Enables SOFTBANK to establish an operating base as one of the largest mobile Internet companies in the world. The combined subscriber base will be one of the largest*2 between the U.S. and Japan, a...Enables SOFTBANK to leverage its deep expertise in smartphones and next-generation mobile networks, and its track record of success in competing in mature markets with large incumbents, to enhance...Provides Sprint USD 8.0 billion of new capital for its mobile network, strategic investments, and balance sheet as part of its continued efforts to fortify its operating base towards future growth.(1) Establishment of Subsidiaries etc.
1. SOFTBANK has formed a new U.S. holding company, Starburst I, Inc. (HoldCo), and two further subsidiaries, Starburst II, Inc. (New Sprint), which is owned directly by HoldCo, and Starburst III, Inc. (Merger Sub), which is owned directly by New Sprint and indirectly by HoldCo. 2. Via New Sprint, SOFTBANK will invest USD 3.1 billion in Sprint in the form of a newly-issued convertible bond (Bond) promptly following the announcement. The Bond will have a 1.0% coupon rate with a seven-year matur...
(2) Merger
1. Following receipt of Sprint shareholder and regulatory approvals and the satisfaction or waiver of the other closing conditions to the transaction, SOFTBANK will capitalize, through HoldCo, New Sprint with an additional approximately USD 17.0 billion. Approximately USD 12.1 billion will be distributed to Sprint shareholders as merger consideration. Merger Sub will merge with and into Sprint as a result of which: 1.1. Sprint will become a wholly-owned subsidiary of New Sprint; 1.2. In aggre...
SOFTBANK will promptly announce the specific dates for the procedures of the transaction once they are decided.
The transaction is fully funded by cash at hand and a bridge financing facility arranged and underwritten by Mizuho Corporate Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Deutsche Bank AG, Tokyo Branch.
SOFTBANK Chairman and CEO, Masayoshi Son said, “This transaction provides an excellent opportunity for SOFTBANK to leverage its expertise in smartphones and next-generation high-speed networks, including LTE, to drive the mobile Internet revolution in the world's largest market. As we have proven in Japan, we have achieved a V-shaped earnings recov...
The Raine Group LLC and Mizuho Securities Co., Ltd. acted as lead financial advisors to SOFTBANK. Mizuho Corporate Bank, Ltd., Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Deutsche Bank AG, Tokyo Branch acted as mandated lead arrangers to SOFTBANK. Morrison & Foerster LLP, Mori Hamada & Matsumoto and Dow Lohnes PL...
SOFTBANK will announce the specific dates for the procedures of the transaction and the impact on the financial results once they are verified.
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Softbank will invest $20.1 billion in Sprint. Of that sum, $12.1 billion goes to Sprint shareholders and $8 billion goes to the balance sheet. 55 percent of Sprint shares will be exchanged...
TOKYO/NEW YORK -- The U.S. Department of Justice on Friday said it will approve the $26 billion merger of SoftBank Group -owned Sprint and T-Mobile US, setting the Japanese-owned carrier on the...
Mar 7, 1996 · In the Merger, Merger Sub was merged into Sprint Nextel, Sprint became the parent company of Sprint Nextel, with Sprint Nextel becoming its direct wholly owned subsidiary, and Sprint Nextel changed its name to “Sprint Communications, Inc.”
