Insiders

Softbank on track to complete Sprint acquisition by July

June 20, 2013 at 10:15 pm EDT

MarketScreener.com By The editorial team

TOKYO (Reuters) - SoftBank Corp CEO Masayoshi Son said on Friday that SoftBank was on track to complete its acquisition of U.S. carrier Sprint Nextel Corp by July, after rival bidder Dish Network Corp declined to raise its offer.

Son was speaking at an annual shareholders' meeting, ahead of a gathering of Sprint shareholders next Tuesday to vote on SoftBank's offer.

Sprint moved on Thursday to take the upper hand in another battle with Dish over control of Clearwire Corp, raising its buyout offer to $5 per share, which it said had helped to win support from a key group of dissident shareholders.

Sprint had already bought a majority stake in Clearwire, which both Sprint and Dish were eyeing for its wireless airwaves that they hope to use for their networks.

(Reporting by Mari Saito; Writing by Sophie Knight; Editing by Edmund Klamann)

Stocks treated in this article : DISH Network Corp, Sprint Nextel Corporation, Clearwire Corporation, Softbank Corp

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DISH NETWORK CORPORATION	5.77 USD	+1.94%	+15.40%	3.08B
SPRINT NEXTEL CORPORATION	- USD	-	0.00%	0
CLEARWIRE CORP	- USD	-	0.00%	0
SOFTBANK GROUP CORP.	7,782 JPY	+2.35%	+1.75%	72.46B
SOFTBANK CORP.	1,878 JPY	+1.57%	+3.33%	56.67B
ARM HOLDINGS PLC	102 USD	+4.10%	+16.93%	105B

Masayoshi Son

Mr. Masayoshi Son is a Chairman at Supercell Oy, a Chairman & Chief Executive Officer at SoftBank Group Corp., a Chairman & Chief Executive Officer at SB Investment Advisers (UK) Ltd. and a President & Representative Director at Wireless City Planning, Inc. He is on the Board of Directors at Arm Ltd. (United Kingdom), SoftBank Group Japan KK, SoftBank Corp. and Wireless City Planning, Inc. Mr. Son was previously employed as a Chairman by SVF Holdco (UK) Ltd., a President, CEO & Representative Director by Softbank Telecom Corp., a President, CEO & Representative Director by SOFTBANK BB Corp., a Chairman by Brightstar International Corp., a Principal by MIC America LLC, a President & Director by SoftBank Holdings, Inc., and a Member by Son Asset Management LLC. He also served on the board at Sprint Corp., Alibaba Group Holding Ltd. and Z Holdings Corp. He received his undergraduate degree from the University of California, Berkeley.

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Linked companies
SOFTBANK GROUP CORP.	Chief Executive Officer
Arm Ltd. (United Kingdom) Arm Ltd. (United Kingdom) SemiconductorsElectronic Technology Arm Ltd. engages in the licensing, marketing, and research and development of microprocessors, system intellectual property (IP), graphics processors, physical IP and associated systems IP, software and tools. Its products include Pelion IoT platform, Mbed OS, IoT SoC, and Kigen SIM. The company was founded by Michael Peter Muller in November 1990 and is headquartered in Cambridge, the United Kingdom.	Chairman

Linked companies

SOFTBANK GROUP CORP.

Chief Executive Officer