A week after news broke that Sprint was thinking of making a bid for MetroPCS, it looks as if the tables have turned and a company may instead make a bid for America's third-largest wireless company. Reuters is reporting that Japanese phone and Internet company SoftBank is considering purchasing a majority stake in Sprint.
According to the report, SoftBank has been looking for a way to break into the U.S. market for months as a way to grow beyond its stagnating home market." So why Sprint? French bank, Société Générale, in a client note, said SoftBank's chairman and CEO, Masayoshi Son, believes the wireless company is "too cheap, and little more."
However, other don't have Sprint as SoftBank's end goal. Nikkei reported that after the Sprint bid, Son might go after MetroPCS, a move that would cost more than $25.6 billion. Retuers says if the deal goes down it would be the "biggest overseas acquisition by a Japanese firm ever."
[via Reuters]
