Sprint’s shareholders vote in favor of merger with Softbank

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Sprint’s shareholders overwhelmingly voted in favor of the proposed merger with Softbank earlier today, paving the way for the Japanese carrier to enter the US wireless market. According to Sprint, nearly 80% of Sprint’s stockholders were present for the vote, and 98% of the votes cast were in favor of the merger.

Sprint CEO Dan Hesse called it a “historic day” for his company, going on to state, “The transaction with SoftBank should enhance Sprint’s long-term value and competitive position by creating a company with greater financial flexibility.”

The FCC still has to approve the deal, which it is expected to do with practically no qualms sometime in July. Sprint shareholders will receive around $7.65 per share, or an option to convert their current Sprint stock holdings to “New Sprint common stock.” Since the FCC is not expected to stand in the way of this deal, we should expect to see Sprint with new owners very soon.

What do you think about Softbank’s long sought-after victory here?

[SprintThanks, Bill!

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John F

John was the editor-in-chief at Pocketables. His articles generally focus on all things Google, including Chrome and Android, although his love of new gadgets and technology doesn't stop there. His current arsenal includes the Nexus 6 by Motorola, the 2013 Nexus 7 by ASUS, the Nexus 9 by HTC, the LG G Watch, and the Chromebook Pixel, among others.

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7 thoughts on “Sprint’s shareholders vote in favor of merger with Softbank

  • Avatar of Andrew
    June 25, 2013 at 5:12 pm
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    I think its great. maybe now i will be able to get cell service and non-spotty 3g/4g service back at the house and not have to leave and drive 1/2 a mile away just to make a phone call and a get a goo internet signal. ever since the tower up date last year my service has sucked something awful.

    Reply
  • Avatar of That one guy
    June 25, 2013 at 6:28 pm
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    They need to fire Ericsson.

    Reply
  • Avatar of Ryan Ibarra
    June 25, 2013 at 7:45 pm
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    Kind of a noob here, but since there’s a merger happening, will this be a way for Sprint customers to jump ship without paying an ETF? Just wondering..

    Reply
    • Avatar of John Freml
      June 26, 2013 at 6:11 am
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      Very doubtful. If the new owners don’t make any material changes to contracts, then nope!

      Reply
  • Avatar of caleb
    June 25, 2013 at 11:15 pm
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    Depends. If all contracts are left the same and nothing is touched. Witch should be the case then no but if the new owners make changes left and right that affect the original contract you agreed to then yes but well guess youll just have to play the waiting game and see what softbank dose

    Reply
  • Avatar of Bill
    June 26, 2013 at 7:44 am
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    Alcatel-Lucent recently performed NV updates to the tower closest to my office, my signal has become marginal at best. I don’t know if they are repositioning the direction of the antenna panels or the downtilt, but IMO, it should not have changed at all. This area is now, pretty much a dead zone unless you go outside. Meanwhile, due to company agreements, Verizon and AT&T have repeaters and antennas installed throughout our building with perfect signal and speeds throughout. I hope it’s just a dead panel facing this direction.

    Reply
  • Avatar of Bill Van
    June 26, 2013 at 6:02 pm
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    Softbank will soon own both Sprint/Clearwire as Dish walk away today for good. Sprint today has billions in their coffers to upgrade and they now own not only the most wireless spectrum in the country but the most coveted spectrum too. Sprint is now in position to become the best wireless provider and will be able to offer unlimited data for years to come.

    Reply

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