A PYMNTS Company

US: Will shareholders stop Sprint buyout by SoftBank?

By  |  June 7, 2013

A lawsuit initiated by Sprint shareholders concerning SoftBank’s $20.1 billion offer to buy out the US mobile telecommunications company got underway Friday morning as plaintiffs’ lawyers argued that the deal favors SoftBank over existing Sprint shareholders. District Judge Thomas M. Sutherland in Kansas heard the first arguments Friday as plaintiffs made their case to delay Sprint’s shareholder vote, currently scheduled for June 12. According to reports, if the deal were to go through SoftBank would control 70 percent of Sprint. Despite the plans to vote on the deal, Sprint is reportedly still in talks with Dish, which has offered to buy Sprint for $25.5 billion.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Kansas City Star

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.