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FILE - In this Nov. 4, 2014 file photo, SoftBank founder and Chief Executive Officer Masayoshi Son speaks during a news conference in Tokyo. Softbank and China's top ride-hailing firm Didi Chuxing are pouring $2 billion into the latest round of financing by cash-hungry Southeast Asian taxi app Grab. Grab said Monday, July 24, 2017, that it expects another $500 million will come from other existing and new investors. Its last announced cash injection was in September when it raised $750 million led by Softbank, whose chief executive Son is Japan's richest person and a self-styled tech visionary. (AP Photo/Eugene Hoshiko, File)

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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)