SoftBank to increase stake in US subsidiary Sprint

Nikkei -- Nov 06

SoftBank Group announced on Monday that it will increase its stake in its U.S. subsidiary Sprint following failed merger talks with T-Mobile US.

The tech giant will increase its stake through the market, subject to favorable market conditions. However, SoftBank said it does not intend to increase ownership of Sprint's outstanding shares to 85% or more.

As of the end of March, SoftBank held an 83% stake in Sprint and attempted to merge with T-Mobile US, a unit of Germany's Deutsche Telekom. But the Japanese company announced on Sunday that it had broken off merger talks.