SoftBank Corp. (the “Company”), as announced in the press release titled “Strategic Acquisition of Sprint by SoftBank” dated October 15, 2012 (partial amendment announced on June 11, 2013), will invest approximately USD 21.6 billion (approximately JPY 1.8 trillion*) in Sprint Nextel Corporation (“Sprint”). As a result of the transaction, Sprint will become a wholly-owned subsidiary of New Sprint, and the Company will own approximately 78% of the fully-diluted shares of New Sprint. For the transaction details, please refer to the abovementioned disclosure document.
On June 25, 2013 (CDT), Sprint shareholders voted in a special stockholders' meeting to approve the transaction with SoftBank. Consummation of the transaction remains subject to the receipt of the Federal Communications Commission (“FCC”) approval. The Company anticipates consummation of the transaction in early July, 2013.