Sprint begins new era with name change, same CEO

07/11/2013 | Bloomberg · Total Telecom Magazine (U.K.)

SoftBank officially took control of Sprint on Wednesday as the Japanese carrier dropped "Nextel" from the company's name and kept Daniel Hesse on as CEO. As part of its $21.6 billion purchase, SoftBank will pump $5 billion in cash into Sprint to help "strengthen Sprint's balance sheet," with the remaining funds distributed to shareholders in the form of cash and stock.

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Bloomberg · Total Telecom Magazine (U.K.)

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