Softbank Corp., which offered $20.1 billion for control of Sprint Nextel Corp., isn’t currently planning to raise its offer after Dish Network Corp. made a competing bid, an executive at the Japanese company said.
A U.S. Justice Department request to defer regulatory action on Softbank Corp.’s $20 billion bid for Sprint Nextel Corp. follows criticism that an acquisition could expose domestic networks to Chinese companies.
SoftBank Corp., the Japanese carrier bidding to take over Sprint Nextel Corp. in a $20.1 billion deal, plans to sell 400 billion yen ($3.9 billion) of bonds targeting individual investors to fund the purchase.
Billionaire Masayoshi Son said SoftBank Corp.’s plan to spend more than $40 billion upgrading its network and acquiring Sprint Nextel Corp. will help transform Japan’s No. 3 mobile carrier into the world’s No. 1.
Softbank Corp . is close to an investment in Gilt Groupe Inc. that would value the members-only online retailer at about $1 billion and help it create a joint venture in Asia, two people familiar with the matter said.