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Jason Bartlett's -- -- -- to talk about a deal that we actually started to talk about last week because it is now official.
Japan's Softbank will buy a 70% stake.
And Sprint Nextel for price tag of about twenty billion slackers Adam Shapiro is covering the story for us and joins us now from the newsroom -- -- -- digging you can -- -- a lot of filet of -- -- -- -- twenty billion bucks out let's talk about this deal level going to be speaking analysts -- -- today so this is going to be an ongoing story and investors -- be careful with this one.
First -- tight about a company when it's all said and -- they're -- have 96 million users worldwide they'll be the third largest provider of cell business worldwide so Softbank clearly having an interest.
In this stake in sprint but Societe general.
Put out a report last Friday and take a look at what's happened this sprint stock over the last year they lowered their advising on this from a buy to a neutral.
Last Friday now sprint shares started -- off back on July 25 today they're not really get much of a -- After this announcement a lot of this is priced in last week is Connell said a lot of people knew about this coming as of last week -- in.
Tokyo Softbank is actually lost a fifth of its value and the concern is dead at the end of the day according to us us to take -- this company's gonna have net debt.
Ratio to equity of 96% and investors are worried about this.
Sprint has a lot of debt hasn't posted gains -- posted losses over the last five years.
Softbank taking on a big risk believing that the stock was undervalued the question is can they turn sprint around Societe Generale saying it's gonna take longer than a year for them to do that.
Back to you got Adams thank you very much this move up.
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