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SoftBank buys Sprint: everything you need to know about the multi-billion acquisition

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Rumors surrounding an acquisition of Sprint by Japanese carrier SoftBank originated on October 11th, 2012, and it wasn't long before the massive $20.1 billion takeover attempt was confirmed. The agreement gives SoftBank a 70-percent stake in Sprint, granting the company full control over America's third-place carrier and a highly-visible presence in the US. Both companies expect the acquisition to close in 2013.