(NEW YORK) — Sprint may soon be controlled by one of Japan’s largest cellphone providers.
In a statement Thursday, the number three U.S. wireless provider said that it is currently in talks with Softbank “regarding a potential substantial investment by Softbank in Sprint.”
The stake would give Sprint a much needed financial boost and provide Softbank with a significant presence in the U.S., shaking up a wireless market that’s been dominated by AT&T and Verizon.
Sprint did not provide any further details but said “such a transaction could involve a change of control of Sprint.”
Copyright 2012 ABC News Radio
Brian Stelter, CNN Money
Tom Kludt, CNN Newswire