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Masayoshi Son

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6_252013_sprint-145218201.jpg

Softbank Corp. President Masayoshi Son and Sprint Nextel Corp. CEO Dan Hesse have reached a deal in which the Japanese mobile carrier will acquire 78 percent of U.S.-based Sprint for $21.6 billion.

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Softbank Corp. President Masayoshi Son (left) and Sprint Nextel Corp. Chief Executive Dan Hesse shake hands Monday after a deal was reached for Softbank to acquire 70 percent of Sprint for $20.1 billion in the largest ever foreign acquisition by a Japanese company. (Associated Press)