Japan's softbank to invest $23 Billion in Sprint

Sprint, US carrier, has officially acknowledged that it is talking to Japan's Softbank about a strategic investment in the carrier, things are beginning to move swiftly behind the scenes.

The latest word is that Softbank is talking to three Japanese banks, Mizuho Financial Group, Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc., in an effort to secure $23 Billion in loans that would be used to help the telecommunications and internet firm acquire 70% of Sprint. The third largest carrier in the U.S. has a current market cap of $17.28 billion after the stock rose on word of the talks.

Source WSJ