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Softbank Agrees to Buy Sprint Stake in $20.1 Billion Deal

Telecom match forms world's third largest mobile-phone venture.

By Mariko Yasu and Shunichi Ozasa | Updated on October 15, 2012

Oct. 15 (Bloomberg) — Softbank Corp. agreed to buy a stake of about 70 percent in Sprint Nextel Corp. for $20.1 billion as Japan’s third-biggest mobile-phone operator seeks growth overseas amid a declining local market.

Softbank will pay $12.1 billion to Sprint shareholders and the deal includes $8 billion of new capital, according to a statement today. The deal would be the biggest publicly announced outbound acquisition by a Japanese company since at least 2000, according to data compiled by Bloomberg.

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