Telecoms deal is Japan's biggest buy overseas
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Tuesday 16 October 2012
The Japanese mobile phone operator Softbank agreed what is the biggest-ever overseas acquisition by a Japanese firm yesterday with a $20bn (£12.44bn) deal to buy a majority stake in Sprint Nextel.
The move, which sees Softbank pick up 70 per cent of Sprint, gives it new avenues for expansion beyond a saturated home market. Sprint, meanwhile, will gain firepower to prey on smaller peers and expand its fourth-generation mobile phone network across the US.
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