Softbank gets support of Japanese banks on Sprint bid

04/26/2013 | Wall Street Journal, The · Wall Street Journal, The

Softbank received the backing of Japanese banks, should the telecom want to raise its $20.1 billion bid for Sprint Nextel in the wake of a competing offer from DISH Network. Analysts say record-low interest rates may enable Softbank to sweeten its offer to buy 70% of Sprint. It may not need to, as analysts point out that DISH's $25.5 billion buyout plan would stick the new combination with a heavy debt load, while Softbank's coffers are filled with cash. DISH has tried to reassure Sprint shareholders that it could effectively manage the extra debt.

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Wall Street Journal, The · Wall Street Journal, The

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