Sprint Nextel, SoftBank complete merger

Sprint Nextel and SoftBank have completed their merger.

As per the merger deal, SoftBank has invested approximately $21.6 billion in Sprint.

Out of the total investment, approximately $16.6 billion will be distributed to Sprint stockholders and $5 billion will be used to strengthen Sprint’s balance sheet.

SoftBank will have approximately 78 percent stake in Sprint.

Dan Hesse will be the CEO, while Masayoshi Son, chairman and CEO of SoftBank, will be the chairman of Sprint.

[email protected]