Japanese wireless service provider Softbank Corp is looking to buy roughly 70 percent of Sprint Nextel Corp in a bold move that would make it a major player in the U.S. mobile market.
But Softbank’s ambitions may not stop with Sprint, which might also be looking to buy out its partner, Clearwire Corp. The Japanese company might also be aiming to use Sprint as a vehicle to make a run at smaller Sprint peer MetroPCS Communications Inc, a two-step transaction that would potentially cost more than 2 trillion yen ($25.55 billion), according to a Nikkei report.
That would make it the biggest overseas acquisition by a Japanese company ever and vault Softbank into the upper echelons of wireless carriers worldwide.
Read the rest of the story: Sprint in talks on potential sale to Japan’s Softbank.