Softbank to buy 70% of Sprint for $20.1B

Japanese operator Softbank will purchase 70 percent of Sprint Nextel (NYSE:S) in a deal valued at $20.1 billion. The move could change the competitive landscape of the U.S. wireless market by strengthening Sprint financially. The Softbank deal, which had been percolating for the past several days, became official early Monday morning. Softbank said it will pay $12.1 billion directly to Sprint...