Softbank Eyes 70 Percent Stake in Sprint; Deal Would Include Cash Injection

Japanese mobile carrier Softbank Corp. is in advanced talks to buy a substantial stake in Sprint Nextel Corp., the third-largest U.S. network operator said Thursday.

A person with knowledge of the negotiations said the value of the deal could exceed $12.8 billion.

Softbank would end up with roughly 70 percent of Sprint, with the remainder of the company being publicly traded, people familiar with the matter said, adding that negotiations are continuing and could fall apart.

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