5/13/2013

SoftBank has stepped up its fight for Sprint Nextel against DISH Network by offering an incentive to create 1,000 Silicon Valley jobs in a new office as well as a threat to banks that help DISH finance its $25.5 billion bid. "I'd like to bring Silicon Valley into the mix. We’re bringing SoftBank capital, our know-how and myself to this," President Masayoshi Son said last week. SoftBank also has reportedly threatened banks that they could be cut out of a potentially lucrative role in financing an initial public offering for Chinese e-commerce giant Alibaba, of which Softbank is a 33% owner.

Related Summaries