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Latest Softbank Items
Capping a long and at times bitter takeover battle, Sprint shareholders meeting in Overland Park, Kan., overwhelmingly approved a $21.6 billion takeover bid from SoftBank, rejecting a competing offer from rival Dish Network and moving the Japan-based SoftBank one step closer to owning 78 percent of America's third-largest wireless carrier.
Dish Network is bowing out of its bid to acquire Sprint and looking instead at broadband provider Clearwire Corp., ending what tech analyst Jeff Kagan called a "crazy" whirl of "watching a group of teenagers falling in and out of love with each other."
Japanese phone company Softbank, owned by billionaire Masayoshi Son, says its net profit more than doubled in the October-December quarter from a year earlier, helped by strong sales of Apple's iPhone and iPads.
Japanese mobile phone company Softbank has agreed to buy 70 percent of Sprint Nextel Corp. for $20 billion, according to a news report.
Softbank Corp., the only Japanese mobile carrier offering the hit iPhone, said annual profit nearly doubled despite suffering damage from the March 11 quake and tsunami that battered northeastern Japan.