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4-Traders Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp    9984   JP3436100006

SOFTBANK GROUP CORP (9984)
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Sprint to accelerate network investment, CEO says

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11/08/2017 | 07:59pm CEST

NEW YORK (Reuters) - Sprint Corp (>> Sprint Corp) will accelerate investment in its network as it plots a future as a standalone company, its chief executive officer said on Wednesday, days after the No. 4 U.S. wireless carrier and rival T-Mobile US Inc (>> T-Mobile US) said merger talks had failed.

NEW YORK (Reuters) - Sprint Corp (>> Sprint Corp) will accelerate investment in its network as it plots a future as a standalone company, its chief executive officer said on Wednesday, days after the No. 4 U.S. wireless carrier and rival T-Mobile US Inc (>> T-Mobile US) said merger talks had failed.

Sprint CEO Marcelo Claure said at an investor conference the company could spend more than its previous guidance of $5 billion to $6 billion per year on capital expenditures, and that cash on hand could dip next year as it builds out its network.

"We came to the realization that we're still far away from what the Sprint network can actually deliver," Claure said on Wednesday. "I don't think we've put all our assets to work."

Sprint and No. 3 U.S. wireless carrier T-Mobile said on Saturday they have called off merger talks to create a combined U.S. wireless company to rival market leaders AT&T Inc (>> AT&T) and Verizon Communications Inc (>> Verizon Communications).

Claure said on Wednesday that the talks fell through because SoftBank Group Corp (>> SoftBank Group Corp) CEO Masayoshi Son was not prepared to relinquish control of Sprint. SoftBank owns a majority of Sprint shares.

"We're always going to be open to looking at possible alternatives," he said, adding that "we believe that eventually there's going to need to be a tie-up between a telco and a cable company."

Sprint shares rose 4.2 percent to $5.99 in early afternoon trading on Wednesday.

(Reporting by Anjali Athavaley, editing by G Crosse)

By Anjali Athavaley

Stocks mentioned in the article
ChangeLast1st jan.
AT&T -0.43% 34.67 Delayed Quote.-10.83%
SPRINT CORP 0.67% 6 Delayed Quote.1.19%
T-MOBILE US -0.25% 63.09 Delayed Quote.-0.66%
VERIZON COMMUNICATIONS -1.09% 47.9 Delayed Quote.-8.50%
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Financials ( JPY)
Sales 2018 9 143 B
EBIT 2018 1 031 B
Net income 2018 792 B
Debt 2018 11 855 B
Yield 2018 0,53%
P/E ratio 2018 11,06
P/E ratio 2019 12,42
EV / Sales 2018 2,29x
EV / Sales 2019 2,17x
Capitalization 9 110 B
Chart SOFTBANK GROUP CORP
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SoftBank Group Corp Technical Analysis Chart | 9984 | JP3436100006 | 4-Traders
Technical analysis trends SOFTBANK GROUP CORP
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 12 672  JPY
Spread / Average Target 53%
EPS Revisions
Managers
NameTitle
Masayoshi Son Chairman & President
Rajeev Misra Director & Head-Strategic Finance
Tadashi Yanai Independent Outside Director
Ken Miyauchi Representative Director & Vice President
Yun Ma Director
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