Softbank sees quick turnaround on Sprint earnings

01/31/2013 | Wall Street Journal, The

Sprint Nextel's finances will rebound within two years after it is initially expected to pull down Softbank's bottom line, said Masayoshi Son, chief executive of the Japanese carrier, which has offered $20.1 billion to buy Sprint. In the short term, Son cited major expenses from building out Sprint's 4G network and depreciation costs from shutting down Nextel's legacy 2G network. "Based on today's foreign exchange rates, it's like we were able to buy Sprint at a discount," Son said Thursday.

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